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

Liu Weihua; Siyu Wang; Yong Lin; Dong Xie; Jiahui Zhang

doi:https://doi.org/10.1016/j.tre.2020.101928

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

Liu Weihua, Siyu Wang^*, Yong Lin, Dong Xie, Jiahui Zhang

^*Corresponding author for this work

Birmingham Business School

Research output: Contribution to journal › Article › peer-review

72 Downloads (Pure)

Abstract

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.

Original language	English
Pages (from-to)	1-24
Journal	Transportation Research Part E: Logistics and Transportation Review
Volume	137
Issue number	5
DOIs	https://doi.org/10.1016/j.tre.2020.101928
Publication status	Published - 1 May 2020

Bibliographical note

This research was funded by National Key R&D Program of China (grant number No. 2018YFB1601400) and by Major Program of the National Social Science Foundation of China (grant number No. 18ZDA060).

Keywords

Intelligent logistics
Government policy
Empirical research
Stock market reaction

Access to Document

https://doi.org/10.1016/j.tre.2020.101928

Effect of Intelligent Logistics Policy on Shareholder Value Evidence from Chinese Logistics CompaniesAccepted author manuscript, 696 KB

Cite this

@article{db04280078c7480da430e89c47956975,

title = "Effect of intelligent logistics policy on shareholder value: Evidence from Chinese logistics companies",

abstract = "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.",

keywords = "Intelligent logistics, Government policy, Empirical research, Stock market reaction",

author = "Liu Weihua and Siyu Wang and Yong Lin and Dong Xie and Jiahui Zhang",

note = "This research was funded by National Key R&D Program of China (grant number No. 2018YFB1601400) and by Major Program of the National Social Science Foundation of China (grant number No. 18ZDA060).",

year = "2020",

month = may,

day = "1",

doi = "https://doi.org/10.1016/j.tre.2020.101928",

language = "English",

volume = "137",

pages = "1--24",

journal = "Transportation Research Part E: Logistics and Transportation Review",

issn = "1366-5545",

publisher = "Elsevier",

number = "5",

}

TY - JOUR

T1 - Effect of intelligent logistics policy on shareholder value: Evidence from Chinese logistics companies

AU - Weihua, Liu

AU - Wang, Siyu

AU - Lin, Yong

AU - Xie, Dong

AU - Zhang, Jiahui

N1 - This research was funded by National Key R&D Program of China (grant number No. 2018YFB1601400) and by Major Program of the National Social Science Foundation of China (grant number No. 18ZDA060).

PY - 2020/5/1

Y1 - 2020/5/1

N2 - 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.

AB - 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.

KW - Intelligent logistics

KW - Government policy

KW - Empirical research

KW - Stock market reaction

U2 - https://doi.org/10.1016/j.tre.2020.101928

DO - https://doi.org/10.1016/j.tre.2020.101928

M3 - Article

SN - 1366-5545

VL - 137

SP - 1

EP - 24

JO - Transportation Research Part E: Logistics and Transportation Review

JF - Transportation Research Part E: Logistics and Transportation Review

IS - 5

ER -

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

Abstract

Bibliographical note

Keywords

Access to Document

Fingerprint

Cite this