The Impact of the S＆T Corridor Policy on Corporate Resilience: A Resource Orchestration Theory Perspective
Liu Xinyi1, Zheng Qinghao2, Deng Yang3
1. School of Management,Huazhong University of Science and Technology,Wuhan 430074,China; 2. School of Business, Sichuan University,Chengdu 610040,China; 3. Chinese Academy of Fiscal Sciences,Beijing 100142,China
Abstract：In the context of heightened global economic volatility and frequent external shocks,enhancing corporate resilience is essential for safeguarding national economic security and ensuring the stable operation of industrial chains.Drawing on resource orchestration theory,this study treats the establishment of the Yangtze River Delta G60 S&T Innovation Corridor as a quasi-natural experiment.Using a sample of A-share listed companies in the Yangtze River Delta from 2010 to 2022,we construct a multi-period difference-in-differences model to systematically assess the policy's impact on corporate resilience.The empirical results show:①The policy significantly improves the resilience of enterprises along the corridor,and the effect remains robust after a series of stability tests;②The mechanism analysis shows that the corridor strengthens corporate resilience by stimulating corporate's technological support capability,organizational coordination capability,and risk-bearing capability,thereby advancing the resource-capability transformation process;③Heterogeneity analysis reveals that the resilience-enhancing effect is more pronounced among non-state-owned,high-tech,high media-exposure firms,and firms with a higher proportion of executives with strong R&D backgrounds.This study not only extends the application boundary of corporate resilience research under the resource orchestration perspective but also provides empirical evidence and practical insights for optimizing and promoting the G60 Sci-Tech Innovation Corridor policy.
刘心怡, 郑青昊, 邓扬. 科创走廊政策对企业韧性的影响研究:基于资源编排理论视角[J]. 中国科技论坛, 2025(12): 123-132.
Liu Xinyi, Zheng Qinghao, Deng Yang. The Impact of the S＆T Corridor Policy on Corporate Resilience: A Resource Orchestration Theory Perspective. , 2025(12): 123-132.
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