How Enterprise Resilience Affects Enterprise Sustainable Development—Empirical Evidence from Listed Companies in China

Lingfu Zhang, Yongfang Dou and Hailing Wang ()
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Lingfu Zhang: School of Business Administration, Xinjiang College of Science & Technology, Korla 841000, China
Yongfang Dou: School of Business Administration, Xinjiang College of Science & Technology, Korla 841000, China
Hailing Wang: School of Economics and Management, Xinjiang University, Urumqi 830046, China

Sustainability, 2025, vol. 17, issue 3, 1-21

Abstract: With the frequent occurrence of various emergencies, the stable operation of enterprises has been seriously affected, and the research of resilience has received more and more attention in various fields. Enterprise resilience (En_RES) is not only related to corporate survival but is also the key to determining whether a company can realize long-term development. To explore the impact of En_RES on enterprise sustainable development (En_SD), this paper conducts an empirical test using panel regression models based on the data of A-share listed companies in China from 2004 to 2022. It is found that En_RES has a significant positive contribution to En_SD, which is more obvious when the degree of environmental uncertainty is lower, the degree of information sharing is higher, and the degree of business complexity is higher. The mechanism test analysis finds that En_RES can further contribute to En_SD by reducing the bankruptcy risk, improving credit availability, and optimizing resource allocation efficiency. This paper innovatively analyzes and verifies the impact of En_RES on En_SD and its functioning mechanism from the perspective of microenterprises, which not only enrich the theoretical relationship between En_RES and En_SD but also provide important references for enterprises to pay attention to and develop resilience in practice, which can help enterprises better cope with challenges, grasp opportunities, and make contributions to the sustainable development of enterprises.

Keywords: enterprise resilience; enterprise sustainable development; bankruptcy risk; credit availability; resource allocation efficiency (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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