Effect of intelligent logistics policy on shareholder value: Evidence from Chinese logistics companies

被引：21

作者：

Liu, Weihua ^{[1
]}

Wang, Siyu ^{[1
]}

Lin, Yong ^{[2
]}

Xie, Dong ^{[3
]}

Zhang, Jiahui ^{[1
]}

机构：

[1] Tianjin Univ, Coll Management & Econ, 92 Weijin Rd, Tianjin 300072, Peoples R China

[2] Univ Greenwich, Business Sch, Syst Management & Strategy Dept, London SE10 9LS, England

[3] Tsinghua Univ, Dept Ind Engn, Beijing, Peoples R China

来源：

TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW | 2020年 / 137卷

基金：

国家重点研发计划;

关键词：

Intelligent logistics; Government policy; Empirical research; Stock market reaction; SUPPLY CHAIN GLITCHES; FINANCIAL IMPACT; MARKET PERFORMANCE; GOVERNMENT POLICY; MAKING; 2.0; STOCK; PRODUCT; ANNOUNCEMENTS; UNCERTAINTY; BEHAVIOR;

D O I：

10.1016/j.tre.2020.101928

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper empirically investigates the effects of intelligent logistics policies (ILPs) on shareholder value of the 149 listed logistics companies from 2013 to 2018 in China. The research shows that ILPs will result in a positive stock market reaction, and this effect is increasing along with the increase of policy contents related to intelligent logistics or the decrease of company service breadth. The market reaction will be affected by the way that policies are issued and type of company. The logistics service providers are more positive when their financial performances are better, while the opposite result is observed for logistics equipment manufacturers.

引用

页数：24

共 82 条

[1] Hierarchical Integrated Intelligent Logistics System Platform
Adamski, Andrzej
[J]. STATE OF THE ART IN THE EUROPEAN QUANTITATIVE ORIENTED TRANSPORTATION AND LOGISTICS RESEARCH, 2011: 14TH EURO WORKING GROUP ON TRANSPORTATION & 26TH MINI EURO CONFERENCE & 1ST EUROPEAN SCIENTIFIC CONFERENCE ON AIR TRANSPORT, 2011, 20
[2] [Anonymous], 2019, CALIFORNIA J OPER MA
[3] Government Quality Determinants of Stock Market Performance in African Countries
Asongu, Simplice A.
[J]. JOURNAL OF AFRICAN BUSINESS, 2012, 13 (03) : 183 - 199
[4] Aziza F.O. F., 2010, The Effects of Monetary Policy on Stock Market Performance: A Cross-Country Analysis
[5] Detecting abnormal operating performance: The empirical power and specification of test statistics
Barber, BM
Lyon, JD
[J]. JOURNAL OF FINANCIAL ECONOMICS, 1996, 41 (03) : 359 - 399
[6] The impact of reshoring decisions on shareholder wealth
Brandon-Jones, Emma
Dutordoir, Marie
Frota Neto, Joao Quariguasi
Squire, Brian
[J]. JOURNAL OF OPERATIONS MANAGEMENT, 2017, 49-51 : 31 - 36
[7] The Asset-Pricing Implications of Government Economic Policy Uncertainty
Brogaard, Jonathan
Detzel, Andrew
[J]. MANAGEMENT SCIENCE, 2015, 61 (01) : 3 - 18
[8] USING DAILY STOCK RETURNS - THE CASE OF EVENT STUDIES
BROWN, SJ
WARNER, JB
[J]. JOURNAL OF FINANCIAL ECONOMICS, 1985, 14 (01) : 3 - 31
[9] Stock market response to monetary and fiscal policy shocks: Multi-country evidence
Chatziantoniou, Ioannis
Duffy, David
Filis, George
[J]. ECONOMIC MODELLING, 2013, 30 : 754 - 769
[10] Social media policies as responses for social media affordances: The case of China
Chen, Qiang
Xu, Xiaolin
Cao, Bolin
Zhang, Wei
[J]. GOVERNMENT INFORMATION QUARTERLY, 2016, 33 (02) : 313 - 324

← 1 2 3 4 5 6 7 8 9 →