本文通过收集沪深两市76家上市公司2-13年期大约360个样本观察值数据,使用广义最小二乘法在我国背景下实证研究了信息系统与企业价值的关系。本文得出了以下研究结论:短期而言,信息系统采用对公司价值具有统计上显著的负面影响,并且在现实中这种负面影响很显著,然而在一个较长时期内,随着时间的推移,这种负面影响逐年减少,并具有边际收益递增效应,表现出U型关系;长期而言,信息系统采用对公司价值具有统计上显著的正面影响。
Abstract
By collecting about 360 samples of observations data from 76 Chinese listed companies with the period of 2-13 year, the relationship between information systems and enterprise value under Chinese context is empirically studied by using GLS regression method. The following conclusions are drawn that in the short term, the use of information systems has a statistically significant negative effect on enterprise value, and in reality, this negative impact is obviously significant, however, in a longer period of time, as time goes by, this negative impact decreases year by year, and has an effect of increasing marginal returns, showing a U-shape relationship. In the long run, the use of information systems has a statistically significant positive impact on enterprise value.
关键词
信息技术 /
信息系统 /
企业价值 /
实证研究 /
广义最小二乘法
Key words
information technology /
information system /
enterprise value /
empirical research /
GLS
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基金
教育部人文社科青年基金项目"零售商自有品牌购买行为与商店忠诚倒U型关系的形成原因:基于顾客体验视角的研究(2010.1-2012.12)"(项目号:09YJC630100);肇庆学院博士科研基金项目"信息系统与企业价值的作用机理:理论与经验研究(2011.1-2013.12)"(项目号:611248) 。
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