| 信息技术投资与公司绩效：基于中国上市公司的实证研究 |
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| 引用本文： | 李治堂,吴贵生.信息技术投资与公司绩效：基于中国上市公司的实证研究[J].科学学与科学技术管理,2008,29(11). |
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| 作者姓名： | 李治堂 吴贵生 |
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| 作者单位： | 清华大学技术创新研究中心,北京,100084 |
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| 摘 要： | 随着公司将大量资金投入信息技术,研究人员和企业界对于信息技术投资价值问题给予越来越多的关注。已有的研究表明,信息技术投资并没有导致公司绩效的提高,存在所谓的信息技术投资"生产率悖论"问题。针对中国企业的信息技术投资与公司绩效关系进行研究,搜集了200多家上市公司1999年到2004年的财务数据。以生产理论为基础,把信息技术作为一种重要的生产投入资源,构造研究面板模型,利用广义最小二乘法对回归方程进行估计。研究表明,公司的信息技术投资,对主营收入、净利润等绩效指标具有积极的影响,信息技术投资是一种生产性投资,对产出具有积极的贡献。
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| 关 键 词： | 信息技术投资 面板数据模型 上市公司 财务绩效 |
Information Technology Investment and Firms" Performance:An Empirical Study on Chinese Listed firms |
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| LI Zhitang,WU Guisheng.Information Technology Investment and Firms" Performance:An Empirical Study on Chinese Listed firms[J].Science of Science and Management of S.& T.,2008,29(11). |
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| Authors: | LI Zhitang WU Guisheng |
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| Abstract: | With the increasing money input into information technology, researchers and businesses begin to pay more attention to the value of information technology investment. Researches have shown that information technology invest- ment has not lead to higher firms' performance, there exists a so-called "productivity paradox" problem. This paper fo- cuses on the relationship between information technology investment and firms' performance of Chinese companies. We have collected more than two hundred listed firms' public finance data covering a period from 1999 to 2004. Based on production theory, considering information technology as an important input factor, we construct the panel data model, and employ GLS method to estimate coefficients of regression function. The result of this research shows that information technology investment produces significant positive impact on operation income and net profit of firms. In- formation technology investment is productive investment; it contributes positively to production output. |
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| Keywords: | information technology investment panel data model listed firm financial performance |
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