ESG performance, new quality productivity and supply chain resilience of manufacturing enterprises

Under the new development paradigm, enhancing the resilience of the manufacturing supply chain is crucial for achieving industrial transformation and upgrading, as well as fostering high-quality economic development. The experiment is designed to explore the impact of environmental, social, and corporate governance (ESG) performance on the resilience of manufacturing enterprises’ supply chains. Drawing on data from A-share manufacturing listed companies in the Shanghai and Shenzhen stock markets spanning from 2012 to 2023, this article empirically examines the mechanism through which ESG performance influences the enhancement of supply chain resilience among manufacturing enterprises. The findings reveal that ESG performance can markedly boost the resilience of manufacturing enterprises’ supply chains. Mechanism testing further indicates that new-quality productivity serves as a mediator in the process of ESG performance fostering the resilience development of manufacturing enterprises’ supply chains. Heterogeneity analysis shows that ESG performance has a more pronounced driving effect on the supply chain resilience of high-tech and non-labor-intensive enterprises. To sustainably elevate the resilience of the manufacturing supply chain, it is imperative to prioritize ESG principles and increase resource allocations; furthermore, efforts should be made to continuously propel the development of new-quality productivity and facilitate the digital transformation of the manufacturing supply chain.