The impact of platform economy on enterprise value mediated by technological innovation

•Development of platform economy helps to enhance enterprises value.•The positive impact was mediated by the technological innovation.•The value of state-owned enterprises is more affected by the platform economy. Platform economy, a new economic form using an internet platform as the primary carrie...

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Vydáno v:Journal of business research Ročník 165; s. 114051
Hlavní autoři: Pan, Xiongfeng, Wang, Yuqing, Zhang, Chengming, Shen, Zhiyang, Song, Malin
Médium: Journal Article
Jazyk:angličtina
Vydáno: Elsevier Inc 01.10.2023
Elsevier
Témata:
Economics and Finance
Enterprise value
Humanities and Social Sciences
Mediating effect
Platform economy
Property rights
Technological innovation
Technological innovation
Platform economy
Property rights
Enterprise value
Mediating effect
ISSN:0148-2963, 1873-7978
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Popis
Shrnutí:•Development of platform economy helps to enhance enterprises value.•The positive impact was mediated by the technological innovation.•The value of state-owned enterprises is more affected by the platform economy. Platform economy, a new economic form using an internet platform as the primary carrier to promote digital economy, could enhance the enterprise value. The existing researches mainly focus on the platform economy's micro-level effect, such as the performance of the industries. This paper empirically examines the platform economy's micro-level effect, i.e., on enterprise value as mediated by technological innovation, based on data from the listed enterprise from 2015 to 2020. The modeling results show that platform economy improves enterprise value, as supported by the positive value of the regression coefficient. The positive impact was mediated by the technological innovation ability of the enterprises, with a mediating effect of 27.30%. The heterogeneity test results show that platform economy positively impacts the enterprise value of state-owned and non-state-owned enterprises, where the impact is more significant in the former. The government should provide policy and financial assistance to non-state enterprises.
ISSN:0148-2963
1873-7978
DOI:10.1016/j.jbusres.2023.114051