Supply chain innovation announcements and shareholder value under industries 4.0 and 5.0: evidence from China

Chaolun Yuan · Weihua Liu · Gang Zhou · Xiaoran Shi · Shangsong Long · Zhixuan Chen +1 more

48 citations0/0 files storedIndustrial Management & Data Systems

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Quality and Supply Management Digital Transformation in Industry Impact of AI and Big Data on Business and Society

Abstract

Purpose This study aims to empirically examine the effect of supply chain innovation (SCI) announcements on shareholder value within the context of Industry 4.0 and Industry 5.0. Design/methodology/approach This study uses an event study method to examine the effect of SCI announcements on shareholder value of the 156 listed companies in China. Findings First, SCI announcements have a positive effect on shareholder value. Second, SCI with an integrated form more positively affects shareholder value than SCI with an independent form. SCI at the strategy level more positively affects shareholder value than SCI at the operation level. Technology-type SCI more positively affects shareholder value than process-type SCI. Third, this study finds that investors pay more attention to the SCI of companies in the service industry than that of in the manufacturing industry. Finally, the post-hoc analysis finds that digital SCI more positively affects shareholder value than intelligent SCI. Originality/value First, most scholars use questionnaire data rather than second-hand data to conduct empirical research to explore the impact of SCI on performance. Second, although scholars focus on performance comprehensively, including operational, financial, relational and environmental performance, no scholars use an event study to explore the impact of SCI on the stock market. Third, no scholars have explored the differential impact of SCI in different industries. Forth, few scholars have classified SCI according to the characteristics to explore the differential impact of SCI. Finally, the differences between SCI of Industry 4.0 and SCI of Industry 5.0 have been described, but no scholars have used empirical research to explore the differences.

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References

1985Using daily stock returns 2010ENSURING SUPPLY CHAIN RESILIENCE: DEVELOPMENT OF A CONCEPTUAL FRAMEWORK 2015How Smart, Connected Products Are Transforming Companies 2003The effect of supply chain glitches on shareholder wealth 2017Challenges and opportunities of digital information at the intersection of Big Data Analytics and supply chain management 2007Related diversification, core competences and corporate performance 2010An empirical investigation of environmental performance and the market value of the firm 2002Supply chain management: a strategic perspective

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2023Financial performance in Industry 4.0 agile supply chains: evidence from manufacturing companies 2024Digital supply chain announcements and firm’s stock market value: An empirical study from China 2024The innovation journey and crossroads of sustainability, resilience and human-centeredness: a systematic literature review 2023Transforming Government: People, Process and Policy

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