Research on the Influence of Internet on the Value Creation of Manufacturing Enterprises: From the Perspective of the Link of Value Creation

Abstract

Abstract: In the context of accelerating the construction of a modern industrial system and promoting the optimization and upgrading of the economic system, it is of great theoretical and realistic significance to explore the role of Internet in the value creation of manufacturing enterprises from the perspective of the link of value creation. The theoretical analysis shows that Internet can promote the value creation of manufacturing enterprises through the mass custom-tailored production modes, the new marketing models combining online and offline, and the servitization of the manufacturing enterprises. The empirical research that makes use of the 2012 World Bank survey data of Chinese manufacturing enterprises indicates that the use of the Internet in production, marketing and service links by manufacturing enterprises can all effectively promote the level of value creation of manufacturing enterprises. The findings of further research show that the effect of the use of Internet in the service link by manufacturing enterprises on the value creation is stronger than that in the production and marketing links. Therefore, during the critical period of transformation and upgrading of manufacturing enterprises, the government should speed up the construction of network infrastructure and industrial Internet platforms.

Key words: Internet, manufacturing enterprise, value creation, the link of value creation

XU Yuanbin, LU Fucai. Research on the Influence of Internet on the Value Creation of Manufacturing Enterprises: From the Perspective of the Link of Value Creation[J]. JOURNAL OF CONTEMPORARY FINANCE AND ECONOMICS, 2021, 0(2): 3-14.

References

[1] Barua A., Whinston A.B., Yin F. Value and Productivity in the Internet Economy[J]. Computer, 2000, 33(5): 102-105.
[2] Cao Z.Research on New Manufacturing Mode Promoting High-quality Development of China's Industry in the Context of Digital Economy[J]. Theoretical Investigation, 2018, (2):99-104.
[3] Davis S.M. From “Future Perfect”: Mass Customizing[J]. Planning Review, 1989, 17(2): 16-21.
[4] Eastwood M.A. Implementing Mass Customization[J]. Computers in Industry, 1996, 30(3): 171-174.
[5] Li J., Cheng Y., Dou K., Qiu J.Status Quo and Constraints of New Mode of Manufacturing Transformation and Upgrading in the Internet Era[J]. Forum on Science and Technology in China, 2019, (4):68-77.
[6] Lu F., Xu Y.Influence of Internet on the Development of Producer Service--A Perspective of Transaction Cost[J]. Contemporary Finance & Economics, 2018, (12):92-101.
[7] Lu F., Xu Y.Research on the Influence of Internet on the Labor Productivity of Manufacturing Industry[J]. Industrial Economics Research, 2019, (4):1-11.
[8] Luo M., Li L.The Innovation of Business Model in Internet Era: From Value Creation Perspective[J]. China Industrial Economics, 2015, (1):95-107.
[9] Ma J., Zhang Y., Yuan D.Changes in Enterprises, Industry and Institutional Supply under the Backdrop of IoE and Intelligent Trends[M] Beijing:China Development Press, 2018.
[10] Normann R., Ramirez R.From Value Chain to Value Constellation: Designing Interactive Strategy[J]. Harvard Business Review, 1993, 71(4): 65-77.
[11] Pine B J., Victor B., Boynton A.C. Making Mass Customization Work[J]. Harvard Business Review, 1993, 71(5): 108-11.
[12] Qiu X., Ran G.Research on Internet Use and Household Financing--Empirical Analysis Based on CFPS[J]. Contemporary Finance & Economics, 2018, (11):56-67.
[13] Rangaswamy A., Van Bruggen G.H. Opportunities and Challenges in Multichannel Marketing: An Introduction to the Special Issue[J]. Journal of Interactive Marketing, 2005, 19(2): 5-11.
[14] Shao H., Wang S.Sharing Economy and Value Creation--Economic Analysis of Sharing Economy[J]. China Business and Market, 2017, (10):100-109.
[15] Stock J.H., Yogo M. Asymptotic Distributions of Instrumental Variables Statistics with Many Instruments[M]// Andrews D. W. K., Stock J. H. Identification and Inference for Econometric Models, Cambridge: Cambridge University Press, 2005.
[16] Wang S., Li Z., Du Y.Research on Value Creation Process Model of Sharing Economy Platform--Take DiDi, Airbnb and TikTok for Example[J]. Management Review, 2019, (7):45-55.
[17] Wang S., Shen G.Reinterpretation of Connotation of Servitization of Manufacturing Industry: From Value Added to Value Creation[J]. Study & Exploration, 2019, (10):128-134.
[18] Wang Y., Kuang X., Shao W.Informatization, Firm's Flexibility and Capacity Utilization[J]. World Economy, 2017, (1):67-90.
[19] Wu Y., Xiao J., Xie K., Liao X.Marketing Transformation: From Value Supply to Value Co-creation-A Comparative Case Study on Firm-Customer Co-evolution Insights[J]. Management World, 2017, (4):138-157.
[20] Yu Y., Yang Z.Research Review on Connotation of Value Co-creation and Its Internal Mechanism[J]. Academia Bimestrie, 2019, (2):165-172.
[21] Zhang G., Wang Z., Zhao H.The Marketing Innovation Mode under“Internet Plus”: The Perspective of Value Network Reconstruction[J]. Management Review, 2019, (3):94-101.
[22] Zhang S., Wei X.Does Information and Communication Technology Reduce Enterprise's Energy Consumption? Evidence from Chinese Manufacturing Enterprises Survey[J]. China Industrial Economy, 2019, (2):155-173.