Industrial Robot Application and Product Market Performance: From the Perspective of Supply Chain Resilience

Abstract

Abstract: The application of industrial robots has injected strong momentum into economic and social development. Taking Chinese A-share listed companies in Shanghai and Shenzhen stock exchanges from 2007 to 2022 as research samples, this study investigates the impact of industrial robot application on the product market performance of enterprises from the perspective of supply chain resilience. The findings indicate that industrial robot applications can significantly improve the product market performance of enterprises. The analysis of the impact mechanism reveals that the application of industrial robots can optimize the supply-demand matching and stabilize the supply-demand relationship of enterprises, thus improving the product market performance of enterprises. The heterogeneity test shows that in the enterprises with high employee education or in the labor-intensive enterprises, the application of industrial robots has a stronger effect on improving the market performance of enterprise products. Further analysis reveals that the application of industrial robots in the supply chain has spillover effects, and the application of industrial robots can improve the financial performance of upstream and downstream enterprises in the supply chain. To this end, it is necessary to vigorously develop the industrial robot industry, support and encourage enterprises to widely apply industrial robots, so as to improve their product market performance.

Key words: industrial robot, supply chain resilience, product market performance, smart manufacturing

CLC Number:

F272.3

Niu Yu-hao, Xiao Yao. Industrial Robot Application and Product Market Performance: From the Perspective of Supply Chain Resilience[J]. Contemporary Finance & Economics, 2025, 0(4): 140-152.

References

[1] 蔡跃洲, 陈楠. 新技术革命下人工智能与高质量增长、高质量就业[J]. 数量经济技术经济研究, 2019, (5): 3-22.
[2] 陈胜蓝, 王鹏程, 马慧, 等. 《中小企业促进法》的纾困效应:产品市场表现视角[J]. 世界经济, 2023, (9): 181-205.
[3] 杜亚光, 何瑛, 金振, 等. 人工智能与企业客户稳定性——基于中国工业机器人应用的证据[J]. 经济问题, 2024, (2): 48-56.
[4] 杜勇, 娄靖, 胡红燕. 供应链共同持股网络下企业数字化转型同群效应研究[J]. 中国工业经济, 2023, (4): 136-155.
[5] 范冬梅, 李莹. 工业机器人应用对出口企业加成率的影响研究[J]. 当代财经, 2024, (5): 128-141.
[6] 冯玲, 袁帆, 刘小逸. 工业机器人与企业创新——来自中国制造业企业的证据[J]. 经济学 (季刊), 2023, (4): 1264-1282.
[7] 高翔, 张敏, 刘啟仁. 工业机器人应用促进了“两业融合”发展吗?——来自中国制造企业投入服务化的证据[J]. 金融研究, 2022, (11): 58-76.
[8] 何小钢, 朱国悦, 冯大威. 工业机器人应用与劳动收入份额——来自中国工业企业的证据[J]. 中国工业经济, 2023, (4): 98-116.
[9] 蒋德权, 蓝梦. 企业社会责任与产品市场表现[J]. 财经研究, 2022, (2): 109-122.
[10] 蒋殿春, 鲁大宇. 供应链关系变动、融资约束与企业创新[J]. 经济管理, 2022, (10): 56-74.
[11] 孔高文, 刘莎莎, 孔东民. 机器人与就业——基于行业与地区异质性的探索性分析[J]. 中国工业经济, 2020, (8): 80-98.
[12] 李青原, 李昱, 章尹赛楠, 等. 企业数字化转型的信息溢出效应——基于供应链视角的经验证据[J]. 中国工业经济, 2023, (7): 142-159.
[13] 刘骏, 龚熠, 刘涛雄. 工业机器人应用如何影响企业运营效率——基于中国制造业上市公司的实证研究[J]. 管理评论, 2023, (5): 243-253+291.
[14] 倪骁然. 卖空压力、风险防范与产品市场表现: 企业利益相关者的视角[J]. 经济研究, 2020, (5): 183-198.
[15] 史丹, 叶云岭. 人工智能、就业结构与高质量发展[J]. 当代财经, 2023, (5): 3-14.
[16] 宋旭光, 左马华青. 工业机器人如何影响制造业就业变动——基于上市公司微观数据的分析[J]. 经济学动态, 2022, (7): 70-89.
[17] 陶锋, 王欣然, 徐扬, 等. 数字化转型、产业链供应链韧性与企业生产率[J]. 中国工业经济, 2023, (5): 118-136.
[18] 王煜昊, 马野青, 承朋飞. 跨境电商赋能企业供应链韧性提升:来自中国上市公司的微观证据[J]. 世界经济研究, 2024, (6): 105-119.
[19] 王永钦, 董雯. 机器人的兴起如何影响中国劳动力市场?——来自制造业上市公司的证据[J]. 经济研究, 2020, (10): 159-175.
[20] 杨光, 侯钰. 工业机器人的使用、技术升级与经济增长[J]. 中国工业经济, 2020, (10): 138-156.
[21] 杨志强, 唐松, 李增泉. 资本市场信息披露、关系型合约与供需长鞭效应——基于供应链信息外溢的经验证据[J]. 管理世界, 2020, (7): 89-105.
[22] 尹美群, 盛磊, 李文博. 高管激励、创新投入与公司绩效——基于内生性视角的分行业实证研究[J]. 南开管理评论, 2018, (1): 109-117.
[23] 张树山, 谷城, 张佩雯, 等. 智慧物流赋能供应链韧性提升: 理论与经验证据[J]. 中国软科学, 2023, (11): 54-65.
[24] Acemoglu D, Restrepo P.Robots and jobs: Evidence from US labor markets[J]. Journal of Political Economy, 2020, 128(6): 2188-2244.
[25] Behzadi G, O’Sullivan M J, Olsen T L. On metrics for supply chain resilience[J]. European Journal of Operational Research, 2020, 287(1): 145-158.
[26] Chowdhury M M H, Quaddus M. Supply chain resilience: Conceptualization and scale development using dynamic capability theory[J]. International Journal of Production Economics, 2017, 188(1): 185-204.
[27] Jüttner U, Peck H, Christopher M.Supply chain risk management: Outlining an agenda for future research[J]. International Journal of Logistics Research and Applications, 2003, 6(4): 197-210.
[28] Koch M, Manuylov I, Smolka M.Robots and firms[J]. The Economic Journal, 2021, 131(638): 2553-2584.
[29] Levine R, Lin C, Xie W S.Corporate resilience to banking crises: The roles of trust and trade credit[J]. Journal of Financial and Quantitative Analysis, 2018, 53(4): 1441-1477.
[30] Wernerfelt B.A resource-based view of the firm[J]. Strategic Management Journal, 1984, 5(2): 171-180.
[31] Wu H, Yu Z X, Li J.Corporate social responsibility, product market competition, and product market performance[J]. International Review of Economics and Finance, 2018, 56(1): 75-91.