Climate Risks and Supply Chain Resilience: Do Executive Compensation Incentives and External Market Attention Matter?

ABSTRACT Based on the dynamic capability theory, we examine how climate risks (CR) affect supply chain resilience (SCR) using data from China's A‐share‐listed companies (2013–2023). The results show that CR significantly enhances SCR. Additionally, CR enhances SCR primarily through three paths: expanding supply chain financing, enhancing supply chain efficiency, and fostering supply chain collaborative innovation. Meanwhile, executive monetary compensation incentives and external market attention both amplify the positive effect of CR on SCR, while equity incentives show no significant moderating role. Heterogeneity analysis reveals that CR exerts a greater influence on SCR among firms with superior ESG performance, greater supply chain transparency, larger trade credit financing, and lower industry competition. Sub‐item testing indicates that the positive impact primarily stems from transition risks. Collectively, this study extends the research frontier at the intersection of CR and SCR and provides actionable guidance for firms navigating climate challenges.