Managing Resilient Renewable Supply Chains

Enhancing the resilience of renewable energy supply chains has become a crucial challenge for maintaining industrial stability and ensuring energy security in China. Using panel data of A-share listed renewable energy companies in China from 2006 to 2024, this study employs a two-way fixed effects model to empirically examine the impact of patient capital on the supply chain resilience of renewable energy enterprises. The main findings are as follows: (1) patient capital significantly enhances the supply chain resilience of renewable energy enterprises; (2) this positive effect operates through three key channels, including capital stability, investment preference, and strategic coordination; (3) the role of patient capital becomes more pronounced as government subsidies decline, suggesting a substitution effect between patient capital and fiscal support. These findings provide policy implications for promoting long-term capital formation, financial stability, and sustainable development in China's renewable energy industry.