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The impact of platform economy on enterprise value mediated by technological innovation

Author

Listed:
  • Xiongfeng Pan

    (Dalian University of Technology)

  • Yuqing Wang

    (Dalian University of Technology)

  • Chengming Zhang

    (Dalian University of Technology)

  • Zhiyang Shen

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - ULCO - Université du Littoral Côte d'Opale - Université de Lille - CNRS - Centre National de la Recherche Scientifique, IÉSEG School Of Management [Puteaux])

  • Malin Song

    (School of Accounting, Anhui University of Finance and Economics, Bengbu)

Abstract

Platform economy, a new economic form using an internet platform as the primary carrier to promote digital economy, could enhance the enterprise value. The existing researches mainly focus on the platform economy's micro-level effect, such as the performance of the industries. This paper empirically examines the platform economy's micro-level effect, i.e., on enterprise value as mediated by technological innovation, based on data from the listed enterprise from 2015 to 2020. The modeling results show that platform economy improves enterprise value, as supported by the positive value of the regression coefficient. The positive impact was mediated by the technological innovation ability of the enterprises, with a mediating effect of 27.30%. The heterogeneity test results show that platform economy positively impacts the enterprise value of state-owned and non-state-owned enterprises, where the impact is more significant in the former. The government should provide policy and financial assistance to non-state enterprises.

Suggested Citation

  • Xiongfeng Pan & Yuqing Wang & Chengming Zhang & Zhiyang Shen & Malin Song, 2023. "The impact of platform economy on enterprise value mediated by technological innovation," Post-Print hal-04277284, HAL.
    • Handle: RePEc:hal:journl:hal-04277284
    DOI: 10.1016/j.jbusres.2023.114051
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    Cited by:

    1. Ji, Baolong, 2025. "Supply chain finance and corporate persistent innovation—from the perspective of dynamic capabilities enhancement," International Review of Economics & Finance, Elsevier, vol. 103(C).
    2. Weilong Wang & Deheng Xiao & Jianlong Wang, 2025. "The Construction of Free Trade Zones Drives Digital Transformation: Empirical Evidence from Chinese Listed Enterprises," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 1204-1235, March.
    3. Xianchun Liao & Jie Wang & Ting Wang & Meicun Li, 2023. "Green Credit Guideline Influencing Enterprises’ Green Transformation in China," Sustainability, MDPI, vol. 15(15), pages 1-22, August.
    4. Herhausen, Dennis & Ludwig, Stephan & Abedin, Ehsan & Haque, Nasim Ul & de Jong, David, 2025. "From words to insights: Text analysis in business research," Journal of Business Research, Elsevier, vol. 198(C).
    5. Moro-Visconti, Roberto & Sánchez García, Javier & López Pascual, Joaquín & Cruz Rambaud, Salvador, 2025. "Digitalization intensity and its impact on financial performance: The role of scalable platforms," Finance Research Letters, Elsevier, vol. 74(C).
    6. Li, Minyang & Du, Anna Min & Wang, Siquan & Lin, Boqiang, 2025. "Better financing: Signal match between growth in the digital economy and renewable energy business," Research in International Business and Finance, Elsevier, vol. 77(PA).

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