Submitted:
13 July 2026
Posted:
14 July 2026
You are already at the latest version
Abstract
This study examines manufacturing firms listed on China’s A-share market from 2014 to 2024 using a triple-difference model to investigate the effect of green investment on the strategic resilience of semiconductor firms under Sino-US trade shocks. The results show that green investment considerably enhances strategic resilience, and this effect remains robust across parallel-trend and other robustness tests. Mechanism analysis indicates that green investment improves resilience by reducing operational performance volatility and increasing equity concentration. Heterogeneity analysis shows that the positive effect on human capital resilience is stronger among non-heavily polluting firms and firms in highly marketized and non-Eastern regions. Meanwhile, the effect on innovation resilience is more pronounced among non-heavily polluting firms and firms in highly marketized and Eastern regions. These findings provide practical and policy insights for strengthening human capital and innovation resilience in semiconductor firms, enhancing their capacity to withstand external shocks, and optimizing green investment strategies.
Keywords:
semiconductor industry
; green investment
; strategic resilience
Copyright: This open access article is published under a Creative Commons CC BY 4.0 license, which permit the free download, distribution, and reuse, provided that the author and preprint are cited in any reuse.
