In recent years,the internet business model has become a popular concept,and has been adopted by an increasing number of traditional enterprises.However,the question remains whether this adoption is a strategy-driven ...In recent years,the internet business model has become a popular concept,and has been adopted by an increasing number of traditional enterprises.However,the question remains whether this adoption is a strategy-driven decision or a blind follow of trends.Therefore,this study is conducted on Chinese listed companies from 2007 to 2020 to examine the existence,underlying motives,and economic consequences of peer effects in traditional enterprises adopting internet business models.The results show significant peer effects among traditional enterprises adopting internet business models.The examination of driving mechanisms reveals that peer effects of internet business models are more significant in enterprises with asset-light structures,higher degrees of virtualization,lower market valuations,and greater financing pressure,supporting the conceptual catering hypothesis rather than the strategic drive hypothesis.Further tests reveal that while adopting internet business models enables enterprises to receive some government subsidy and market reaction in the short term,it only promotes tactical innovation rather than real innovation and does not improve the financial performance of these enterprises.This further indicates that peer effects of internet business models are not a strategic drive but rather a matter of conceptual catering.展开更多
The Internet is the best practice of Next Generation Network (NGN). One goal of NGN is to change the telecommunication network from a 'monopolized and closed' one into a 'competitive and open' one. The...The Internet is the best practice of Next Generation Network (NGN). One goal of NGN is to change the telecommunication network from a 'monopolized and closed' one into a 'competitive and open' one. The network service providers will offer high-quality, low-cost and colorful services while the traditional telecommunication operators will gradually develop into the network access providers and not directly participate in any specific service. In the service-dominated future, the telecommunication industry will be horizontally integrated with other active industries, such as consumption, entertainment and shopping, into an open, distributed and operable win-win ecological chain. In the new win-win situation, the users will be the biggest beneficiary.展开更多
基金supported by the Major Project of the National Natural Science Foundation of China(No.71790604)the Distinguished Young Scholars Project of the University of International BusinessandEconomics(No.21JQ03).
文摘In recent years,the internet business model has become a popular concept,and has been adopted by an increasing number of traditional enterprises.However,the question remains whether this adoption is a strategy-driven decision or a blind follow of trends.Therefore,this study is conducted on Chinese listed companies from 2007 to 2020 to examine the existence,underlying motives,and economic consequences of peer effects in traditional enterprises adopting internet business models.The results show significant peer effects among traditional enterprises adopting internet business models.The examination of driving mechanisms reveals that peer effects of internet business models are more significant in enterprises with asset-light structures,higher degrees of virtualization,lower market valuations,and greater financing pressure,supporting the conceptual catering hypothesis rather than the strategic drive hypothesis.Further tests reveal that while adopting internet business models enables enterprises to receive some government subsidy and market reaction in the short term,it only promotes tactical innovation rather than real innovation and does not improve the financial performance of these enterprises.This further indicates that peer effects of internet business models are not a strategic drive but rather a matter of conceptual catering.
文摘The Internet is the best practice of Next Generation Network (NGN). One goal of NGN is to change the telecommunication network from a 'monopolized and closed' one into a 'competitive and open' one. The network service providers will offer high-quality, low-cost and colorful services while the traditional telecommunication operators will gradually develop into the network access providers and not directly participate in any specific service. In the service-dominated future, the telecommunication industry will be horizontally integrated with other active industries, such as consumption, entertainment and shopping, into an open, distributed and operable win-win ecological chain. In the new win-win situation, the users will be the biggest beneficiary.
