CAJ | 학술논문

本文通过收集沪深两市76家上市公司2—13年期大约360个样本观察值数据，使用广义最小二乘法在我国背景下实证研究了信息系统与企业价值的关系。本文得出了以下研究结论：短期而言，信息系统采用对公司价值具有统计上显著的负面影响，并且在现实中这种负面影响很显著，然而在一个较长时期内，随着时问的推移，这种负面影响逐年减少，并具有边际收益递增效应，表现出U型关系；长期而言，信息系统采用对公司价值具有统计上显著的正面影响。
본문통과수집호심량시76가상시공사2—13년기대약360개양본관찰치수거，사용엄의최소이승법재아국배경하실증연구료신식계통여기업개치적관계。본문득출료이하연구결론：단기이언，신식계통채용대공사개치구유통계상현저적부면영향，병차재현실중저충부면영향흔현저，연이재일개교장시기내，수착시문적추이，저충부면영향축년감소，병구유변제수익체증효응，표현출U형관계；장기이언，신식계통채용대공사개치구유통계상현저적정면영향。
By collecting about 360 samples of observations data from 76 Chinese listed companies with the period of 2 - 13 year , the relationship between information systems and enterprise value under Chinese context is empirically studied by using GLS regression method. The following conclusions are drawn that in the short term, the use of information systems has a statistically significant negative effect on enterprise value, and in reality, this negative impact is obviously significant, however, in a longer period of time, as time goes by, this negative impact decreases year by year, and has an effect of increasing marginal returns, showing a U - shape relationship. In the long run, the use of information systems has a statistically significant positive impact on enterprise value.