商业模式创新与商业信用匹配下的新零售价值创造——来自微观企业的证据
Value Creation of New Retail under the Matching of Business Model Innovation and Business Credit——Evidence from Microenterprises
陈瑞华1
作者信息
- 1. 泉州信息工程学院,福建 泉州 362000
- 折叠
摘要
基于2015-2021年中国A股新零售上市企业微观数据,通过Word2Vec文本分析法测度商业模式创新水平,构建固定效应模型实证检验商业模式创新与商业信用匹配下的新零售价值创造机理.研究发现:1.商业模式创新有利于新零售企业价值创造,但加入控制变量后的影响下降明显;商业信用在加入控制变量前后均显著促进新零售企业价值创造,并导致负债水平系数转为显著.2.商业模式创新与商业信用的平衡性和组合性在引入控制变量前后均显著促进新零售企业价值创造,但组合性的影响系数明显低于平衡性.3.商业信用对新零售企业价值创造的影响存在产权异质性,对非国有企业的促进效果更明显;商业模式创新和商业信用平衡性的产权异质性不明显,组合性的影响存在产权异质性.文章最后提出推动新零售企业商业模式数字化转型与创新、促进商业信用更好服务新零售经济发展以及重视商业模式创新与商业信用的平衡性与组合性等政策建议.
Abstract
Based on the micro-data of China A-share listed enterprises in the new retail sector from 2015 to 2021,this paper measures the level of business model innovation through Word2Vec text analysis,and constructs a fixed-effect model to empirically test the mechanism of value creation in new retail under the matching of business model innovation and business credit.The findings are as follows:1)Business model innovation is beneficial to value creation of new retail enterprises,but its influence decreases significantly when control variables are introduced.Business credit significantly promotes value creation of new retail enterprises before and after the introduction of control variables,which causes the coefficient of debt level to become significant;2)The balance and combination of business model innovation and business credit significantly promote value creation of new retail enterprises before and after the introduction of control variables,but the influence coefficient of the combination is much lower than that of the balance;3)The effect of business credit on value creation of new retail enterprises exhibits property rights heterogeneity,with a more pronounced effect on non-state-owned enterprises;though not evident in the balance,property rights heterogeneity exists in the effect of the combination.The paper also puts forward some policies to facilitate the digital transformation and innovation of business models of new retail enterprises,prompt business credit to better serve the development of the new retail economy,and pay attention to the balance and combination of business model innovation and business credit.
关键词
商业模式创新/商业信用/新零售/价值创造/产权异质性Key words
business model innovation/business credit/new retail/value creation/property rights heterogeneity引用本文复制引用
基金项目
福建省本科高等学校教育教学改革研究项目(2021)(FBJG20210141)
出版年
2023
NETL
NSTL
万方数据