The Impact of Digital Transformation on Supply Chain Resilience in Manufacturing: An Empirical Analysis of A-Share Listed Manufacturing Enterprises in China

Against a backdrop of heightened global uncertainty, supply chain resilience has emerged as a core competitive advantage for the survival and development of manufacturing enterprises. This study employs a two-way fixed effects model based on panel data from Chinese A-share listed manufacturing firms (19,751 observations) spanning 2011–2023 to empirically examine the impact of digital transformation on manufacturing supply chain resilience and its underlying mechanisms. The supply chain resilience index was constructed using the entropy method; The level of digital transformation was measured using the Guotai An (CSMAR) Digital Transformation Index. The findings reveal that digital transformation exerts a significant positive effect on supply chain resilience (baseline regression coefficient:0.0158, p<0.01), realized through two key pathways: alleviating corporate financing constraints (coefficient:-0.0051, p<0.01; coefficient for SMEs: 0.0107, p