Research on the Path of Promoting the Value Enhancement of Sports Enterprises——Dynamic QCA Analysis Based on Panel Data
Enterprise value refers to the market value of an enterprise's tangible and intangible assets.Analyzing the influencing factors of enterprise value and identifying the configuration of paths for enhancing enterprise value are beneficial for enterprise value management and promote the high-quality development of enterprises.Therefore,this paper uses the annual report data of sports companies listed on the Shanghai,Shenzhen,and Beijing A-shares and the New Third Board from 2017 to 2022 as analysis samples.It employs multiple regression analysis to screen out factors that significantly impact the value of sports enterprises and explores the configuration effect of these factors on enterprise value enhancement through dynamic Qualitative Comparative Analysis(QCA)methodology.The findings are as follows:1.Enterprise scale,debt ratio,equity concentration,and return on equity have significant positive effects on the value of sports enterprises,thus constituting the antecedent conditions affecting sports enterprise value,with the influence of these conditions exhibiting ownership heterogeneity and regional heterogeneity.2.Enterprise scale is present in every path and plays a crucial role in the value enhancement of sports enterprises.Additionally,the consistency level of equity concentration shows a"decreasing trend over the years."3.There is no single optimal path for all sports enterprises to follow to enhance value;multiple driving paths exist,which can be condensed into three types based on different core conditions:"Asset-Equity Structure Driven by Property Right Heterogeneity,""Asset-Driven under Regional Heterogeneity,"and"Asset-Liability Driven under Property Right Heterogeneity."4.In terms of the time dimension,the enhancement effect of each path configuration on sports enterprise value is influenced by domestic and international factors;in the spatial dimension,the distribution of typical cases of each configuration shows significant regional heterogeneity.
NETL
NSTL
万方数据
