品牌架构体现了一家公司的总体营销战略,它可能通过影响公司的经营效率而影响公司价值。关于品牌架构战略影响公司价值的问题,现有研究在主效应的结论上不一致,对其机制也未进行实证检验。本文以2015—2019年的沪深上市公司为研究样本,实证检验了品牌架构战略和公司价值之间的关系及作用机制。结果表明,公司品牌架构对公司价值有更显著的影响,经营效率在三种品牌架构和公司价值的关系中发挥显著的中介作用。机制检验发现,公司品牌架构相对在业务组织和管理、营销投入方面发挥出更明显的成本优势,从而显著提高经营效率和公司价值;多品牌架构则相对在新品牌和新产品引入的创造收入提升经营效率方面表现更佳。研究结论在各种稳健性检验下仍然成立。进一步地,本文发现品牌架构战略对公司价值的影响在不同业务战略和市场类型的公司中具有明显的异质性。本文丰富和深化了品牌架构战略研究,为企业管理者、金融市场投资者在业务经营和营销战略决策、投资分析等方面提供了新的启示和依据。
品牌架构战略对公司价值的影响及其机制研究
摘要
参考文献
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引用本文
蒋廉雄, 蓝紫苑, 徐一帆, 等. 品牌架构战略对公司价值的影响及其机制研究[J]. 外国经济与管理, 2022, 44(11): 3-28.
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