【摘要】 数据要素与人工智能的协同发展改变了生产组织方式,不仅成为提升企业韧性的重要路径,更是推动我国从“制造大国”迈向“智造强国”的关键支撑。基于2011—2024年我国A股上市公司数据,本文采用双重机器学习模型探究数智协同发展对企业韧性的影响及作用机制。研究发现,数智协同对企业韧性具有显著提升作用。机制检验表明,数智协同主要通过增强企业技术创新能力、提高内部控制质量和降低供应链中断风险三种路径赋能企业韧性的提升。异质性分析得出,数智协同发展对企业韧性的提升作用在政府支持力度较大、数据保障程度较高的地区,低行业竞争度、重污染行业以及管理者战略视野开阔和劳动密集型的企业中更为突出。进一步分析发现,企业韧性存在回弹效应,即韧性提升会诱发企业扩张行为,增加扩张风险从而削弱企业韧性,而数智协同发展在一定程度上可缓解该效应。本研究为数智协同发展对企业韧性的影响提供了经验证据,并为相关政策制定提供了启示。更多还原

【Abstract】 Digital-intelligence synergy refers to the deep integration of digital technologies and intelligent production systems.It has not only become a crucial pathway for enhancing corporate resilience but also serves as a key driver in advancing China’ s transition from a manufacturing powerhouse to a smart manufacturing powerhouse.Based on data from China’s A-share listed companies from2011 to 2024,this study employs a Double Machine Learning(DML) approach to examine the impact of digital-intelligence synergy on corporate resilience and its underlying mechanisms.The results show that digital-intelligence synergy significantly enhances corporate resilience.Mechanism analysis reveals that this effect operates through three primary channels:enhancing firms’ innovation capability,improving internal control quality,and mitigating supply chain disruption risks.Heterogeneity analysis indicates that the effect is more pronounced in regions with stronger government support and more developed data infrastructure,in less competitive and heavily polluting industries,and in firms with managers possessing broader strategic vision as well as labor-intensive firms.Further analysis identifies a rebound effect in corporate resilience:improvements in resilience may induce corporate expansion,which increases expansion risks and subsequently weakens resilience.However,digital-intelligence synergy can,to some extent,mitigate this effect.This study provides empirical evidence on the role of digital-intelligence synergy in shaping corporate resilience and offers insights for policy formulation.更多还原