互联网背景下零售业上市公司融合模式 比较研究

作者	王红丽
姓名汉语拼音	wanghongli
学号	2018000002041
培养单位	兰州财经大学
电话	13593101215
电子邮件	1137060223@qq.com
入学年份	2018-9
学位类别	学术硕士
培养级别	硕士研究生
学科门类	经济学
一级学科名称	理论经济学
学科方向	产业经济学
学科代码	020205
第一导师姓名	宣红岩
第一导师姓名汉语拼音	xuanhongyan
第一导师单位	兰州财经大学
第一导师职称	副教授
题名	互联网背景下零售业上市公司融合模式比较研究
英文题名	A Comparative Study on the Convergence Mode of Listed Retail Companies under the Background of Internet
关键词	零售业全要素生产率融合模式比较影响因素
外文关键词	Retail; Total factor productivity; Fusion model comparison; Influencing factor;
摘要	近年来零售业融合发展的趋势愈演愈烈，线上线下融合发展的“新零售”模式也代表着零售业在互联网发展的背景下出现了业态的革新。零售业作为国民经济的重要组成部分，对于商品的流通和经济的支撑具有显著的作用，是国民经济的引导行业。然而线上线下零售企业互相抢占市场、融合模式不符合自身情况导致经营效率低下，零售行业的销售额增速逐渐回落。零售业不仅受到宏观经济环境的影响，企业内部管理落后、资金利用不当等问题也会导致企业经营效率低下。零售业已不再是过去粗放式的高增长经营模式，随着科学技术的发展和消费需求的多样化，零售业亟需从量变向质变转变。融合发展已是大势所趋，对于线下线上企业来说不同的融合模式有不同的经营效益，零售业要想实现质变，首先要选择适合自身的融合模式，通过改进自身问题和克服不利因素来提高经营效率。因此，研究零售业融合模式，通过比较不同模式的效率，测度主要影响因素的作用，对零售业提高运营效率、促进经济发展有重要的现实意义。本文运用 DEA-Malquist 模型测算零售业上市公司全行业和不同融合模式分年度全要素生产率，并对全要素生产率进行了分解分析，进一步采用 DEA-BCC模型测算不同融合模式下零售业上市公司的综合效率，最后采用 Tobit 模型对影响零售业上市公司融合模式的因素进行实证回归，根据结论提出了促进零售业融合发展的相关对策建议。首先，对我国 2013-2018 年的零售业上市公司运用 DEA-Malquist 模型测算全要素生产率，结果得出零售业上市公司的全要素生产率总体呈现上升的趋势，而其中引起这一变化的主要原因在于技术进步和规模效率的增长。从融合模式来看，线下向线上的延伸方式中，全要素生产率增长最高的是入驻或者加盟知名电商平台模式，最低的是自建线上平台模式。线上向线下的拓展中三种模式均实现正向增长，其中投资/收购股权式战略联盟模式的年均 TFP 值最高，其主要原因是技术进步带来的效率提升。从具体企业来看，大部分企业均实现了效率提升，从分解的变动情况来看，大部分样本公司的技术效率变动、技术进步和规模效益也都在提升。其次，运用 DEA-BCC 模型对零售业 83 家上市公司的综合效率进行测度，根据测度结果可知线下向线上延伸的方式中，入驻或加盟知名电商平台的综合效率最高。线上向线下拓展的方式中，自主经营模式的综合效率值则更高。具体来看，83 家企业的综合效率值虽分布不一但差别不大，说明零售业上市公司线上线下融合的综合效率还是较稳定的。最后，采用 Tobit 模型对影响零售业上市公司融合模式的因素进行实证分析，通过划分宏观和微观两种因素并进行不同模式的分析得出对于线下企业来说，宏观和微观的因素影响程度都较大，其中地区经济发展水平、互联网技术水平和居民人均消费支出以及微观影响因素中的企业资产负债率、管理费用率和产权结构对线下企业向线上延伸的融合模式均有不同程度的影响。而对于线上企业来说，选取的宏观影响因素和微观影响因素产生的影响都较小，相比之下，企业自身微观影响因素更显著，资产负债率对混合式模式影响更显著，营销费用率对自主经营模式影响更大，管理费用率对自主经营和混合式模式有影响，线上企业主要都为私营企业，产权结构影响较小。
英文摘要	In recent years,the trend of the integrated development of the retail industry has become increasingly fierce. The "new retail" mode of the integrated development of online and offline also represents the innovation of the retail industry under the background of the development of the Internet. As an important part of the national economy, the retail industry plays a significant role in the circulation of commodities and the support of the economy, and is a leading industry of the national economy. However, the online and offline retail enterprises occupy the market with each other, and the integration mode is not in line with their own situation, leading to low operating efficiency, and the growth rate of sales in the retail industry gradually falls down. The retail industry is not only affected by the macro-economic environment, but also caused by backward internal management and improper use of funds. With the development of science and technology and the diversification of consumer demand, the retail industry is in urgent need of changing from quantity to quality. Convergent development has become the trend of The Times. For offline and online enterprises, different integration modes have different operating benefits. In order to achieve qualitative change, the retail industry should first choose a fusion mode suitable for its own, and improve operating efficiency by improving its own problems and overcoming unfavorable factors. Therefore, it is of great practicalsignificance for the retail industry to improve operational efficiency and promote economic development to study the retail industry integration mode and measure the role of main influencing factors by comparing the efficiency of different modes. This paper uses DEA - Malquist model estimates retail listed companies in the industry and different fusion model points annual total factor productivity, and the total factor productivity are the decomposition analysis, further the DEA - BCC model to measure the comprehensive efficiency of retail listed companies under different fusion model, finally using Tobit model of influencing factors of retail industry listed company merge mode empirical regression, according to the conclusion puts forward relevant countermeasures and Suggestions to promote the development of retail trade integration. First of all, the DEA-Malquist model is used to measure the total factor productivity of China's listed retail companies from 2013 to 2018. The results show that the total factor productivity of listed retail companies shows an overall upward trend, and the main reasons for this change are the technological progress and the growth of scale efficiency. From the perspective of integration mode, among the extension modes from offline to online, the mode with the highest total factor productivity growth is the mode of entering or joining well-known e-commerce platforms, while the mode of self-established online platforms is the lowest. In the expansion from online to offline, the three modes all achieve positive growth, among which the investment/acquisition equity strategic alliance mode has the highest annual average TFP value, which is mainly due to the improvement of efficiency brought by technological progress. From the perspective of specific enterprises, most enterprises have achieved efficiency improvement. From the perspective of changes in decomposition, technical efficiency change, technological progress and economies of scale of most sample companies are also increasing. Secondly, DEA-BCC model is used to measure the comprehensive efficiency of 83 listed companies in the retail industry. According to the measurement results, it can be seen that among the ways of extending from offline to online, the comprehensive efficiency of entering or joining well-known e-commerce platforms is the highest. In the way of expanding from online to offline, the comprehensive efficiency value of independent operation mode is higher.To be specific, although the comprehensive efficiency values of 83 enterprises are distributed differently, there is little difference, indicating that the comprehensive efficiency of online and offline integration of listed retail companies is relatively stable. Finally, using Tobit model affecting the retail fusion model of factors in the empirical analysis of listed companies, through macro and micro analysis of the two factors and carry on different mode for offline businesses, macro and micro factors that influence degree is larger, the level of regional economic development, the Internet technology level and per capita consumption expenditure and micro influence factors of the asset-liability ratio, management fee and property right structure to the online to offline enterprise integration patterns have different degrees of influence. For online enterprises, select the macroscopical factors and micro factors affecting the impact of small, by contrast, microcosmic factors affecting enterprise itself is more significant, asset-liability ratio are more significant effect on the hybrid mode, the marketing rate affected more by the independent mode, management fee to operate independently and hybrid mode, online enterprises mainly to the private sector, property right structure.
学位类型	硕士
答辩日期	2021-05-21
学位授予地点	甘肃省兰州市
语种	中文
论文总页数	89
参考文献总数	86
馆藏号	0003510
保密级别	公开
中图分类号	F062.9/68
文献类型	学位论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/29452
专题	国际经济与贸易学院
推荐引用方式 GB/T 7714	王红丽. 互联网背景下零售业上市公司融合模式比较研究[D]. 甘肃省兰州市. 兰州财经大学,2021.

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