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Effect of intelligent logistics transformation announcements on shareholder value: Evidence from Chinese listed firms

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  • Weihua Liu
  • Jiahui Zhang
  • Jiahe Hou
  • Siyu Wang

Abstract

This study empirically examines the impact of the intelligent logistics transformation (ILT) announcement on companies' shareholder value. The market model is used to estimate abnormal return. ILT inspires a significantly positive average (median) market response on the announcement day. There is a strong relationship between the announcing firm features like industry features and abnormal returns. The announcement features like investment direction of ILT also affect the market response. In addition, an interesting finding is that firms with worse prior financial performance than the industry level will receive a more positive market response when they conduct ILT by establishing an information platform.

Suggested Citation

  • Weihua Liu & Jiahui Zhang & Jiahe Hou & Siyu Wang, 2021. "Effect of intelligent logistics transformation announcements on shareholder value: Evidence from Chinese listed firms," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(5), pages 1194-1219, July.
    • Handle: RePEc:wly:mgtdec:v:42:y:2021:i:5:p:1194-1219
    DOI: 10.1002/mde.3302
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    References listed on IDEAS

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    Cited by:

    1. Liu, Weihua & Zhang, Jiahui & Shi, Yangyan & Lee, Paul Tae-Woo & Liang, Yanjie, 2022. "Intelligent logistics transformation problems in efficient commodity distribution," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 163(C).
    2. Guangmei Cao & Yuesen Wang & Honghu Gao & Hao Liu & Haibin Liu & Zhigang Song & Yuqing Fan, 2023. "Coordination Decision-Making for Intelligent Transformation of Logistics Services under Capital Constraint," Sustainability, MDPI, vol. 15(6), pages 1-25, March.

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