“互联网+”融合战略是否提升了企业价值——基于上市公司数据

Whether the“Internet+”Integration Strategy Enhancing the Enterprise Value——Based on the Data of Listed Companies

随着实体经济和互联网融合度的不断提升,“互联网+”战略逐步成为传统企业的发展导向。文章以商贸流通产业为主要研究对象,综合2013—2017年商贸流通业在沪深A股上市企业数据,在充分研究“互联网+”相关作用机制的前提下,通过年报分析法设计了“互联网+”战略评分指数。研究发现:相比于未实施“互联网+”战略的企业,实施的商贸流通类企业每股收益提升了39.22%,资产收益率提升了37.14%。回归分析还表明,“互联网+”战略除了能够在当期内显著提升企业价值外,还能对企业价值的变化产生显著的正向影响,有助于推动企业的长期价值累积。

With the continuous improvement of the integration of the real economy and the Internet,“Internet+”strategy has gradually become the development orientation of traditional enterprises.The article takes the trade circulation industry as the main research object,integrates the data of the trade circulation industry in Shanghai and Shenzhen A-share listed enterprises from 2013 to 2017,and designs the“Internet+”strategy scoring index through the annual report analysis method on the premise of fully studying the relevant action mechanism of“Internet+”.The study found that compared with the enterprises that did not implement the“Internet+”strategy,the earnings per share of the commercial circulation enterprises increased by 39.22%and the return on assets increased by 37.14%.Regression analysis also shows that the“Internet+”strategy can not only significantly improve the enterprise value in the current period,but also have a significant positive impact on the change of enterprise value,which helps to promote the long-term value accumulation of enterprises.