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Human Capital Investment, Technological Innovation, and Resilience of Chinese High-End Manufacturing Enterprises

Author

Listed:
  • Kun Chao

    (School of Management, China University of Mining and Technology (Beijing), Beijing 100083, China)

  • Shixue Wang

    (School of Management, China University of Mining and Technology (Beijing), Beijing 100083, China)

  • Meijia Wang

    (School of Management, China University of Mining and Technology (Beijing), Beijing 100083, China)

Abstract

In the era of VUCA, cultivating and enhancing the resilience of high-end manufacturing enterprises is critical. Based on existing research, this paper defines enterprise resilience at the beginning and constructs an enterprise resilience evaluation index system that includes three segmented capabilities: recognition and resistance, adaptation and adjustment, and recovery and rebound. Finally, the relationship between human capital investment, technological innovation, and high-end enterprise resilience is empirically studied. The research results show that human capital investment positively affects the resilience of high-end manufacturing enterprises, with breakthrough innovation and progressive innovation playing a mediating role. Digital transformation positively moderates the impact of human capital investment on the resilience of high-end manufacturing enterprises. Further, there is a higher threshold between human capital investment and technological innovation in improving the resilience of high-end manufacturing enterprises. Human capital investment has a significantly positive effect on high-end manufacturing enterprises’ ability to resist risks and adapt to adjustments but has no significant impact on recovery and rebound ability. Breakthrough and progressive innovation partially mediate the impact of human capital investment on the ability to resist risks and adapt to adjustments, while breakthrough innovation has no significant impact on the recovery of the rebound ability; however, progressive innovation completely mediates the relationship between human capital investment and the recovery of rebound ability. Compared with Chinese non-state-owned enterprises, state-owned enterprises’ efforts to increase investment in human capital only positively impact their ability to resist risks. Compared with large-scale enterprises, the increase in human capital investment in small-scale enterprises only has a significant positive impact on the ability to resist risks. Based on the above, this paper suggests that high-end manufacturing enterprises should enhance their strategic focus and constantly strengthen their investment in human capital and technological innovation; at the same time, they should further optimize the structure of human capital investment and introduce and cultivate cutting-edge talents.

Suggested Citation

  • Kun Chao & Shixue Wang & Meijia Wang, 2025. "Human Capital Investment, Technological Innovation, and Resilience of Chinese High-End Manufacturing Enterprises," Sustainability, MDPI, vol. 17(1), pages 1-25, January.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:1:p:247-:d:1558270
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