Abstract:
Promoting the coordinated digital-green transformation (hereinafter referred to as digital-green synergistic transformation) of agricultural enterprises serves as a vital approach to fostering new productive forces and advancing high-quality corporate development. Using unbalanced panel data of 322 agricultural listed companies from 2008 to 2024, this paper employs a two-way fixed-effects model to empirically investigate the impact and influencing mechanisms of digital-green synergistic transformation on the organizational resilience of agricultural enterprises. The results show that digital-green synergistic transformation significantly improves the organizational resilience of agricultural enterprises during the sample period, and this conclusion remains valid after a series of endogeneity and robustness tests. Heterogeneity analysis indicates that the effect of digital-green synergistic transformation on organizational resilience varies across enterprise ownership, industry categories and geographical locations. The resilience-promoting effect is more pronounced in non-state-owned, agricultural processing and manufacturing enterprises, as well as firms located in major grain-producing areas. The mechanism analysis further reveals that digital-green synergistic transformation enhances organizational resilience mainly through enhancing supply-demand matching, cutting the cost-to-expense ratio, and boosting investment efficiency, which reveals the internal mechanism through which digital-green synergistic transformation empowers corporate resilience from multiple dimensions including market response, cost control and resource allocation. Accordingly, governments can refine fiscal, tax and financial support policies to mobilize agricultural enterprises’ enthusiasm for transformation, implement differentiated support measures to drive the coordinated development of all types of industrial entities, and build industrial chain platforms for integrated digital-green development to smooth the internal transmission channels of digital-green synergistic transformation.