Impact of emergencies and supply chain resilience on corporate financial decision-making: an empirical analysis of Chinese manufacturing firms

This paper explores the impact of emergencies on corporate financial decision-making against the background of the COVID-19 pandemic. Through the DID, it determines the impact of emergencies on four aspects of decision-making, namely, investment, financing, distribution, and cash management; through the moderation test, it is found that supply chain resilience negatively moderates the relationship between emergencies and corporate financial decision-making, and that the degree of digital transformation has different moderating effects on the impact of emergencies on corporate financial decision-making. In the current unstable economic environment, these factors have important implications for Chinese firms in preventing emergencies and stabilizing financial decisions.