Can shareholder chain relationship network enhance corporate supply chain resilience? Evidence from China

As economic globalization and the specialization of labour deepen, competition among firms has increasingly shifted towards supply-chain-based competition. Accordingly, the continued enhancement of supply chain resilience has become a key issue in corporate strategic management. Using data on Chinese A-share listed firms from 2008 to 2024, this study examines the effect of shareholder chain relationship networks on corporate supply chain resilience and further explores the underlying mechanisms. The results indicate a significant positive association between shareholder chain relationship networks and corporate supply chain resilience, and the findings remain robust across a series of robustness checks. Mechanism tests demonstrate that operating risk diversification and resource allocation efficiency are important channels through which shareholder chain relationship networks enhance corporate supply chain resilience. Heterogeneity tests show that shareholder chain relationship networks have a more pronounced effect on enhancing supply chain resilience among firms with greater managerial myopia and higher internal control quality.