品牌价值对企业绩效的影响机制与实证检验

Influence Mechanism and Empirical Test of Brand Value on Enterprise Performance

品牌价值是企业获取经济绩效的重要保障,也是企业实现高质量发展的关键所在。利用世界品牌实验室发布的品牌价值数据,探讨品牌价值对企业绩效的影响效果、内在机理,以及内外部治理环境的异质性作用。研究发现:品牌价值有效提高了企业价值、企业竞争力、资产利润率,以及销售净利率,品牌价值与企业绩效显著正相关;异质性分析发现,品牌价值对企业绩效的激励效应在行业竞争更高、企业社会责任更强,以及互联网普及率更好的组别中表现更为明显;机制检验表明,品牌价值通过品牌信任、品牌溢价对企业绩效产生影响。文章为理解企业的高质量发展提供来自高价值品牌培育的新解释,同时也进一步拓展了品牌价值经济后果的研究框架。

Brand value is an important guarantee for enterprises to obtain economic performance,and it is also the key for enterprises to achieve high-quality development.Using the brand value data released by the world brand laboratory,this paper discusses the effect of brand value on enterprise performance,the internal mechanism and the heterogeneity of the internal and external governance environment.The research finds that:First,brand value effectively improves the enterprise value,the enterprise competitiveness,the asset profit margin and the net profit margin of sales.Brand value is significantly positively correlated with enterprise performance.Second,the heterogeneity analysis finds that the incentive effect of brand value on corporate performance is more obvious in the groups with higher industry competition,stronger corporate social responsibility and better internet penetration.Third,the mechanism test shows that brand value affects enterprise performance through brand trust and brand premium.This paper provides a new explanation from the cultivation of high-value brands for understanding the high-quality development of enterprises,and further expands the research framework of the economic consequences of brand value.