绿色工厂认证能提升供应链韧性吗？

陈琪，贾雅萱

（郑州大学商学院，河南郑州 450001）

摘要：提升供应链韧性是维护供应链安全稳定、推动经济发展的重要支撑，绿色转型日益成为驱动供应链升级的新动力，绿色工厂建设作为绿色转型的重要政策工具，为供应链韧性的增强提供新契机。以2012—2023年A股制造业上市公司为研究对象，通过双向固定效应模型，实证检验绿色工厂认证对供应链韧性的影响。研究结果显示，绿色工厂认证能提升制造业企业的供应链韧性，该结论在一系列稳健性检验后仍成立。机制检验结果表明，绿色工厂认证通过提升企业声誉、改善供应链融资及推动绿色创新来提升企业供应链韧性。异质性分析结果显示，国有企业、行业集中度高以及重污染行业的企业受益更明显。进一步分析结果显示，自愿型环境规制与强制型环境规制具有协同作用。研究结论为理解绿色制造与供应链韧性的关系提供了新视角，也为政府进一步优化绿色工厂认证政策提供了有益参考。

基金项目：2026年度河南省科技厅软科学研究计划项目“‘绿色工厂’认证对供应链韧性的影响与机制研究”（262400412044）

关键词：绿色工厂；自愿型环境规制；供应链韧性；供应链融资；绿色创新

作者简介：陈琪，郑州大学商学院教授、博士生导师；贾雅萱，郑州大学商学院硕士研究生。

引用格式：陈琪,贾雅萱.绿色工厂认证能提升供应链韧性吗?[J].首都经济贸易大学学报,2026,28(2):98-110.

Does the Green Factory Certification Enhance Supply Chain Resilience?

CHEN Qi, JIA Yaxuan

(Zhengzhou University, Zhengzhou 450001)

Abstract: In the context of accelerating global supply chain restructuring, intensified geopolitical conflicts, and frequent extreme weather events that exacerbate supply chain risks, this paper focuses on China's Green Factory certification policy in the green manufacturing system, and systematically explores its impact on the supply chain resilience of manufacturing enterprises. This paper uses unbalanced panel data from 21,772 A-share listed manufacturing companies in China from 2012 to 2023, and constructs a two-way fixed effects model to identify the causal relationship between the Green Factory certification and supply chain resilience.

Empirical results show that obtaining the Green Factory certification enhances the supply chain resilience of manufacturing enterprises, and the conclusion is valid after a series of robustness tests. The mechanism analysis reveals three key transmission channels: (1) The certification helps enterprises build a positive green reputation and strengthens trust relationships with upstream and downstream partners; (2) It improves the availability of supply chain financing, alleviating financial constraints in resilience building; (3) The dynamic supervision and incentive mechanisms associated with the certification effectively stimulate corporate green innovation, providing technical support for risk response in the supply chain.

Heterogeneity analysis shows that the resilience-enhancing effect of this policy is more pronounced in state-owned enterprises (SOEs), industries with high market concentration, and heavily polluting industries. Specifically, SOEs, relying on institutional advantages, are better able to integrate green standards into supply chain management; high-concentration industries benefit from the stronger signaling effect of the certification, promoting collaborative resilience improvement in industrial clusters; and heavily polluting industries, facing greater environmental regulatory pressure, use the certification as an opportunity to accelerate the restructuring of supply chain networks, enhancing adaptive capacity.

Moreover, this paper finds a synergistic effect between voluntary environmental regulations represented by the Green Factory certification and mandatory environmental regulations: the stronger the enforcement of mandatory policies, the more significantly the certification enhances supply chain resilience.

The marginal contributions of this paper are threefold. First, it innovatively links the Green Factory certification with supply chain resilience, expanding the research perspective on supply chain resilience in the context of the dual carbon goals. Second, it fills the research gap regarding the impact of voluntary environmental regulations on supply chain resilience. Third, it clarifies the specific mechanisms through which the certification works, providing actionable strategies for business practice. Based on these findings, this paper offers targeted policy implications for both government and enterprises, aiming to provide theoretical and practical support for enhancing the supply chain security of China's manufacturing industry in the context of global industrial restructuring.

Keywords: green factory; voluntary environmental regulation; supply chain resilience; supply chain financing; green innovation

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