本文關(guān)鍵詞：基于價值鏈的金融科技企業(yè)價值影響因素研究　出處：《北京交通大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 金融科技企業(yè) 價值鏈 價值影響因素

【摘要】：近年來,我國金融科技行業(yè)逐漸興起,投資者對其持續(xù)看好。金融科技企業(yè)與傳統(tǒng)企業(yè)相比具有低利潤率、輕資產(chǎn)、高創(chuàng)新、高風(fēng)險、上規(guī)模的特點(diǎn),這使得金融科技企業(yè)與傳統(tǒng)企業(yè)有較大差異,價值影響因素也有很大不同。本文以價值管理的角度為出發(fā)點(diǎn),經(jīng)過價值鏈分析識別企業(yè)價值增值活動,較為全面系統(tǒng)地對金融科技企業(yè)價值影響因素進(jìn)行研究,為金融科技企業(yè)增強(qiáng)競爭力、提升企業(yè)價值提供思路,為投資者對其進(jìn)行價值評估提供理論基礎(chǔ)。本文通過理論和實(shí)證相結(jié)合的方法,對基于價值鏈的金融科技企業(yè)價值影響因素進(jìn)行了探究。在理論方面,在閱讀相關(guān)文獻(xiàn)基礎(chǔ)上,結(jié)合金融科技企業(yè)運(yùn)營方式,以波特價值鏈理論為基礎(chǔ),構(gòu)建了金融科技企業(yè)價值鏈�；谒鶚�(gòu)建的金融科技企業(yè)價值鏈,從金融科技企業(yè)基礎(chǔ)活動和輔助活動入手對金融科技企業(yè)的價值影響因素進(jìn)行了理論分析,甄選出金融科技企業(yè)價值5個核心影響因素,并結(jié)合金融科技企業(yè)的特點(diǎn)選取指標(biāo)對各價值影響因素進(jìn)行量化,共選取9個指標(biāo)對識別的影響因素進(jìn)行反映,選取的指標(biāo)具有較好的可操作性。在實(shí)證研究方面,本文以在美國紐約證券交易所上市的31家金融科技企業(yè)的2013-2016年共4年數(shù)據(jù)為樣本,運(yùn)用Stata12.0軟件,建立多元回歸模型,探究所選取的指標(biāo)與金融科技企業(yè)價值間的關(guān)系及影響程度。結(jié)果表明:對金融科技企業(yè)價值有顯著影響的指標(biāo)有收入增長率、傳播渠道數(shù)量、客戶忠誠度、高管持股比例、研發(fā)投入強(qiáng)度和管理層知識結(jié)構(gòu),其中收入增長率對企業(yè)價值影響最大。在實(shí)證研究基礎(chǔ)上,本文以PayPal和宜人貸為研究案例進(jìn)行對比分析,對實(shí)證結(jié)果加以應(yīng)用。最后,本文以理論分析和實(shí)證研究結(jié)果為基礎(chǔ),結(jié)合我國金融科技企業(yè)的情況,提出如下建議:(1)加強(qiáng)自身平臺建設(shè),對于合作伙伴的選擇上對其擁有的平臺和渠道予以重點(diǎn)考察;(3)以提升用戶體驗為經(jīng)營重點(diǎn),注重關(guān)系運(yùn)營,培養(yǎng)客戶消費(fèi)習(xí)慣;(3)將上下游需求進(jìn)行有機(jī)結(jié)合,注重研發(fā)投入效率,對開發(fā)周期短的創(chuàng)新想法優(yōu)先予以實(shí)施;(4)提高具備海外留學(xué)或任職經(jīng)歷的人員比例,注重職工全球化視野的培養(yǎng)。
[Abstract]:In recent years, China's financial industry gradually rise, investors for its continued bullish. Financial technology enterprises and traditional enterprises compared with low profit margins, light assets, high innovation, high risk characteristics, scale, which makes the financial science and technology enterprises and traditional enterprises have great difference, the influence factor of value is very different in this paper. The value management perspective as a starting point, through the analysis of value chain activities value recognition enterprise, conducts a comprehensive research on the system impact on the enterprise value factors for financial technology, financial technology enterprises to enhance competitiveness, improve enterprise value ideas, provide a theoretical basis for the assessment of the value of its investors. Through the combination of theory and methods the empirical, the influence factors on the value chain of enterprise value based on financial technology were studied. In theory, in the reading on the basis of the relevant literature, combined with the financial department Operation mode and technology enterprises, with Potter's value chain theory, constructs the financial science and technology enterprise value chain. The financial science and technology enterprises based on the value chain, from the financial science and technology enterprise basic activities and support activities of the value factors of influence on financial enterprises of science and technology has carried on the theoretical analysis, the selection of a financial enterprise value of 5 core technology the influence factors, combined with the characteristics of financial science and technology enterprises to quantify the index effect on the value of factors, 9 indicators were selected to reflect the effect on recognition of the factors, the chosen index has good operability. In the empirical research, this paper uses the data of 31 financial technology companies listed on the New York stock exchange in the United States. 2013-2016 a total of 4 years as a sample, using Stata12.0 software to establish the multiple regression model, the relationship between the value and impact indicators and financial technology companies on the selected Degree. The results show that the technology has a significant influence on the financial index of enterprise value income growth rate, the number of communication channels, customer loyalty, executives shareholding, R & D investment strength and management knowledge structure, the income growth rate of the largest impact on enterprise value. On the basis of empirical research, based on the PayPal and pleasant credit for a case study of comparative analysis to be applied to the empirical results. Finally, based on the theoretical analysis and empirical research results as the basis, combined with China's financial enterprises of science and technology, put forward the following suggestions: (1) to strengthen the self construction of the platform, the choice of partners on its own platform and channels to be investigated; (3) to enhance the user experience as the focus, pay attention to the relationship between operation, cultivate customer spending habits; (3) the lower demand for organic combination, focusing on the R & D investment efficiency, short of a development cycle New ideas are given priority to be implemented; (4) increase the proportion of personnel with overseas study or post experience, and pay attention to the cultivation of the vision of workers' globalization.

【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F275;F832.39

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本文編號：1369315