数智时代下算力资源部署对供应链韧性的影响研究

The Impact of Computing Resource Deployment on Supply Chain Resilience in the Digital-Intelligence Era

摘要:

在数智技术加速重塑供应链运行方式的背景下，算力基础设施能否转化为企业稳链能力，是保障产业链供应链安全的重要议题。本文以2015—2024年沪深A股上市公司为样本，系统考察算力资源部署对企业供应链韧性的影响效应与作用机理。研究发现：算力资源部署能够显著提升企业供应链韧性，该结论经一系列稳健性与内生性检验后依然成立；即时响应能力提升、上下游协同创新深化、投资资源配置效率优化是三条核心机制。异质性分析显示，主回归效应在区域市场化程度较高、企业吸收能力较强、供应链地理布局分散且集中度较低的样本中更为突出。进一步分析表明，算力的稳链红利沿供应链上下游双向溢出，且对上游供应商的带动作用更强；供应链韧性改善最终能够提升企业市场价值。本文从外部算力供给视角拓展了数字基础设施影响供应链韧性的研究，为优化算力资源空间布局和提升产业链供应链安全水平提供了微观证据。

Abstract:

Against the backdrop where digital-intelligence technologies are rapidly reshaping the operational patterns of supply chains, whether computing infrastructure can translate into firms'' supply chain stabilization capability constitutes a critical issue for safeguarding the security of industrial and supply chains. Drawing on a sample of Shanghai and Shenzhen A-share listed companies from 2015 to 2024, this paper systematically examines the impact and underlying mechanisms of computing resource deployment on corporate supply chain resilience. The findings reveal that computing resource deployment significantly enhances supply chain resilience, and this conclusion remains robust across a series of robustness and endogeneity tests. Enhanced real-time response capability, deepened upstream-downstream collaborative innovation, and optimized efficiency of investment resource allocation are identified as the three core mechanisms. Heterogeneity analysis shows that the main regression effect is more pronounced in samples characterized by higher regional marketization, stronger firm absorptive capacity, and a dispersed geographic supply chain layout with lower concentration. Further analysis indicates that the supply chain stabilization dividends of computing resources spill over bidirectionally along the supply chain, with a stronger driving effect on upstream suppliers; ultimately, improved supply chain resilience enhances corporate market value. By taking an external computing resource supply perspective, this paper extends the literature on how digital infrastructure affects supply chain resilience and provides micro-level evidence for optimizing the spatial allocation of computing resources and enhancing the security of industrial and supply chains.