Cross-border e-commerce, foreign shareholding, and supply chain resilience

Abstract

Using annual data from Chinese A-share listed companies from 2010 to 2022, this study empirically examines the impact of establishing the comprehensive pilot zones for cross-border e-commerce (CPZCEs) on corporate supply chain resilience by constructing a multiperiod difference-in-differences (DID) model. Furthermore, it investigates the moderating role of foreign ownership. Findings reveal that establishing CPZCEs significantly improves supply chain resilience, as evidenced by increased supply chain redundancy, decreased supply chain concentration, and improved quality of supply chain innovation. Further analysis demonstrates that foreign ownership significantly moderates the impact of CPZCEs on supply chain resilience, with higher foreign ownership percentages further amplifying this positive effect. Mechanism tests reveal that the establishment of CPZCEs improves supply chain resilience by lowering periodic expenses and tax burdens for firms. In summary, establishing CPZCEs positively influences corporate supply chain resilience, with foreign ownership playing a crucial moderating role. These findings offer empirical support for the policy's effectiveness and valuable insights into promoting cross-border e-commerce development.