Title: Effect of regional intelligent logistics policy on market value evidence from Chinese logistics companies

Authors: Siyu Wang; Jiahe Hou; Yanjie Liang

Addresses: College of Management and Economics, Tianjin University, No. 92, Weijin Road, Nankai District, Tianjin, 300072, China ' College of Management and Economics, Tianjin University, No. 92, Weijin Road, Nankai District, Tianjin, 300072, China ' College of Management and Economics, Tianjin University, No. 92, Weijin Road, Nankai District, Tianjin, 300072, China

Abstract: The paper studies the stock market reaction of 88 regional intelligent logistics policies (RILPs) for Chinese logistics companies from 2013-2020. First, we find the stock market reaction of RILPs is positive. Second, combined with fundamental analysis theory (FAT), this research discusses the stock market reaction from macro factors, industry factors, and micro factors. For macro factors, when the per capita GDP of province is worse or its information service revenue is better, the market reaction of RILP is more positive. For industry factors, the worse the logistics industry added values are, the more positive the reaction of RILPs is. For micro factors, an RILP has a more positive impact on the smaller enterprises. Finally, we compare the market reactions of polices issued by provincial governments (which is RILPs) with those of central-government intelligent logistics policies (CILPs), and the effects of RILPs are more positive.

Keywords: regional intelligent logistics; provincial policy; stock market.

DOI: 10.1504/IJMOM.2022.130688

International Journal of Modelling in Operations Management, 2022 Vol.8 No.4, pp.331 - 353

Received: 02 Feb 2021
Accepted: 15 Mar 2021
Published online: 03 May 2023 *

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