In the context of the coexistence of the digital wave and macroeconomic turbulence, how to enhance the resilience of enterprises is not only related to the quality of their own development, but also to the prosperity and stability of China’s industrial economy and the prevention of domestic and foreign market risks.
Taking China’s A-share listed companies from 2007 to 2022 as the sample, this paper investigates the relationship between “new infrastructure” and enterprise resilience by using a multi-period DID model. The results show that the “new infrastructure” first explored by the “Smart City” pilot can help enhance enterprise resilience, and this conclusion is still valid after robustness tests such as parallel trend and placebo. Mechanism testing finds that the “new infrastructure” with “information infrastructure, integration infrastructure, and innovation infrastructure” as the core improves supply chain governance through the information enabling effect, accelerates industrial chain integration through the resource enabling effect, and promotes value chain reconstruction through the innovation enabling effect. Further analysis shows that the enabling effect of enterprise resilience in “new infrastructure” is enhanced in regions with lower levels of financial development, enterprises with lower information transparency, and specialized and new enterprises.
This paper provides empirical evidence for the enabling effect of micro-enterprises in “new infrastructure”, and also provides a new direction and perspective for the cultivation of enterprise resilience under VUCA normal, which has strong practical significance for enterprises to overcome business difficulties and restore growth, and provides practical inspiration for the sustainable development of enterprises under VUCA normal.