Keywords
Enterprise resilience
Resource-based view
Dynamic capability
Submitted : 2026-05-04
Accepted : 2026-05-19
Published : 2026-06-03
Abstract
In recent years, construction enterprises have faced multiple challenges such as economic fluctuations, complex risks, and intensified competition, and there is an urgent need to improve enterprise resilience to achieve sustainable survival and development. Based on the resource-based view and dynamic capability perspective, this paper explores the influencing factors of construction enterprises’ resilience. Selecting samples of 66 listed construction enterprises from 2019 to 2023, a principal component regression model of factors affecting enterprise resilience is constructed using principal component analysis and multiple regression analysis to identify the key influencing factors of construction enterprises’ resilience. The results show that enterprise resilience is mainly supported by four dimensions: endogenous capability building centered on human capital and digital transformation is the most critical; external resources and trust foundations represented by corporate reputation and financial capital are crucial; at the same time, the improvement of operational efficiency and the dispersion of supply chain risks also play important roles. These factors together constitute a multi-dimensional capability system for enterprises to resist shocks and achieve recovery.
References
Barney J, 1991, Firm Resources and Sustained Competitive Advantage. Sage Publications, 17(1): 99–120.
Zhang L, Wei G, Mao F, et al., 2024, Explicit Characteristics and Performance of Construction Enterprises from the Resource-Based Perspective. Journal of Engineering Management, 38(4): 44–49.
Zhang H, Gu Y, Rao H, 2020, Research on the Impact of Resource Heterogeneity of Innovation Partners on Innovation Performance, Modeling and Simulation Based on System Dynamics. Journal of Central South University (Social Sciences Edition), 26(6): 130–139+182.
Zhang J, You J, Chen W, et al., 2024, Research on the Improvement Mechanism of Whole-Process Engineering Consulting Service Capability from the Perspective of Dynamic Capability. Journal of Engineering Management, 38(4): 32–37.
Mi L, Miao X, 2021, The Impact of Dynamic Capabilities on Strategic Performance Under the Evolution of Resource Actions: A Case Study of Yili Group. Journal of Management Case Studies, 14(1): 91–110.
Lu C, Li X, Lu C, et al., 2024, Can Carbon Emissions Trading Improve the Resilience of High-Energy-Consuming Enterprises? Evidence from a Quasi-Natural Experiment. Financial Theory and Practice, 541(8): 30–42.
Xiao X, Lin Y, 2024, ESG Performance and Enterprise Resilience: Effects and Mechanisms. Review of Industrial Economics, 62(3): 116–134.
Liu F, 2022. Market Competition, Government Support and Industry-University-Research Collaborative Innovation. Modern Economic Research, 485(5): 88–98.
Tian X, Zhang X, 2025, Human Capital, Digital Empowerment and Enterprise Performance. Business Economy, 581(1): 100–103.
Xin Q, Kong D, Hao Y, 2014, Corporate Transparency and Stock Price Volatility. Journal of Financial Research, 412(10): 193–206.
Fang J, 2007, Information Disclosure Transparency of Listed Companies in China and Securities Analysts’ Forecasts. Journal of Financial Research, 324(6): 136–148.
Guan K, Zhang R, 2019, Corporate Reputation and Earnings Management: Efficient Contract View or Rent-Seeking View. Accounting Research, 375(1): 59–64.
Niu Z, Xu C, Wu Y, 2023, Optimization of Business Environment, Human Capital Effect and Enterprise Labor Productivity. Management World, 39(2): 83–100.
Fang X, 2024, VAT Refund for Remaining Input Tax, R&D Innovation and Corporate ESG Performance. Friends of Accounting, 733(13): 133–140.
Wu F, Hu H, Lin H, et al., 2021, Enterprise Digital Transformation and Capital Market Performance: Empirical Evidence from Stock Liquidity. Management World, 37(7): 130–144+10.
Tao F, Wang X, Xu Y, et al., 2023, Digital Transformation, Industrial Chain and Supply Chain Resilience and Enterprise Productivity. China Industrial Economics, 422(5): 118–136.
Ge J, 2019, Green Technology Innovation, Carbon Accounting Information Disclosure and Financing Constraints of Heavily Polluting Enterprises. Communication of Finance and Accounting, 824(24): 95–100.
Hu N, Xue F, Wang H, 2021, Does Managerial Myopia Affect Enterprises’ Long-Term Investment? Based on Text Analysis and Machine Learning. Management World, 37(5): 139–156+11+19-21.
Tang T, Ma C, 2025, The Influence Mechanism of Resource Allocation on the Transformation and Upgrading of Manufacturing Enterprises: Based on the Mediating Effect of Technological Niche. Technoeconomics & Management Research, 346(5): 107–113.
Yan F, Ren H, Zhao X, 2024, Intelligent Manufacturing and Diversification of Supply Chain Configuration. Journal of Zhongnan University of Economics and Law, 266(5): 110–123.
Zhou J, Pan L, Wang X, 2023, How Does Board Strategic Involvement Affect the Activity of Internal Capital Markets? Journal of Capital University of Economics and Business, 25(4): 69–81.