Abstract
ABSTRACT This paper investigates the influence of industrial robots on corporate immunity during the COVID-19 pandemic, utilising data from Chinese manufacturing listed companies between 2017Q1 and 2020Q1. The primary findings indicate that industrial robots can foster immunity to alleviate the adverse effects of the COVID-19 crisis, and this mitigation effect is substantial. The empirical results remain robust after conducting numerous tests and instrumental variable regression. The development of immunity by industrial robots occurs through two mechanisms: labour substitution and enhanced operational efficiency. The immunity effect of industrial robots is more pronounced in state-owned, high-tech firms, and companies severely impacted by the COVID-19 pandemic.
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