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.
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页数：24
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