Can digital transformation enhance tourism enterprise resilience? Evidence from Chinese listed companies

Enterprise resilience holds significant strategic value for the highly sensitive tourism industry to achieve resilient growth amid multiple risk challenges in uncertain environments. This study takes the data of Chinese tourism listed companies from 2013 to 2023 as the sample, and based on dynamic capabilities theory, examines the impact of digital transformation on tourism enterprise resilience through benchmark regression analysis. The results demonstrate that digital transformation significantly enhances tourism enterprise resilience, and this effect is more pronounced in state-owned enterprises, non-loss-making enterprises, and companies located in Western China. Mechanism analysis reveals that digital transformation achieves this by strengthening adaptive capability, competitive capability, and absorptive capability. Meanwhile, the increase in financing constraints and government subsidies will weaken the impact of digital transformation on tourism enterprise resilience. Furthermore, the peer effect in digital transformation negatively affects competitive and absorptive capacities, thereby impairing tourism enterprise resilience. The findings not only deepen the theoretical framework of digital transformation and enterprise resilience research based on dynamic capabilities theory, but also provide management implications for enhancing the risk resistance capability of the tourism industry in the digital economy era.