Can Green Supply Chain Management Improve Supply Chain Resilience? A Quasi-Natural Experiment from China

The supply chain is a critical tool for enterprises to withstand risks and ensure sustainable development. Integrating green and environmentally friendly practices into the supply chain has become an increasingly prominent trend. This study examines the impact of green supply chain management (GSCM) on supply chain resilience, using the green supply chain pilot projects implemented in China as a quasi-natural experiment, employing a multi-period difference-in-difference (DID) model. Based on panel data from manufacturing enterprises listed on the A-share market in China from 2014 to 2022, the findings reveal three key insights. First, GSCM significantly improves the resilience of enterprise supply chains. Second, GSCM has both signaling and cost effects, as it can reduce corporate financing costs and enhance market value, lower market transaction costs, and improve productivity. These are potential channels through which GSCM exerts a positive influence. Third, the positive impact of GSCM on supply chain resilience is more pronounced in enterprises with third-party environmental certifications and higher institutional shareholder ratios. Additionally, this study also extends to demonstrate that GSCM directly and positively influences corporate environmental performance. These findings provide policy recommendations for enhancing green supply chain development and offer managerial insights to help enterprises proactively embrace green transformation.