A Study on the Impact of Computing Infrastructure Development on Corporate Resilience
DOI:
https://doi.org/10.54097/rx5vwx19Keywords:
Computing power infrastructure development; corporate resilience; digital transformation; risk-taking.Abstract
Computing infrastructure serves as a new digital foundation driving high-quality economic development, whilst corporate resilience constitutes the line of defence for micro-entities against external shocks. This paper utilises data on A-share listed companies from 2013 to 2024, using the number of IDC licences in prefecture-level cities as a proxy for the level of computing infrastructure, and employs a fixed-effects model to empirically test its impact on corporate resilience. The study finds that the development of computing power infrastructure significantly enhances corporate resilience, a conclusion that remains valid following robustness tests. Mechanism tests indicate that digital transformation and risk-taking levels are two key pathways; heterogeneity analysis reveals that this effect is more pronounced in state-owned enterprises and firms in the eastern region; and the level of marketisation of data as a production factor plays a positive synergistic role in this process. This paper broadens the research perspective on the economic consequences of computing power infrastructure, providing micro-level empirical support for advancing the construction of a nationwide integrated computing power network and balancing development with security during the 15th Five-Year Plan period. It is recommended that the government continue to increase investment in computing power infrastructure, refine incentive mechanisms for digital transformation, accelerate reforms towards the market-based allocation of data as a production factor, and implement differentiated policies to prevent a structural ‘resilience gap’.
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