Firms’ value impact of C2M mode empowered by big data based on event study
Nankai Business Review International
ISSN: 2040-8749
Article publication date: 14 September 2023
Issue publication date: 23 November 2023
Abstract
Purpose
This study aims to analyze and discuss whether and how consumer-to-manufacturer (C2M) mode empowered by e-commerce retail platforms’ big data affects the stock returns of firms in supply chains.
Design/methodology/approach
This study selects 195 companies affected by four C2M events as samples and empirically analyzes the impact mechanisms of C2M mode on supply chain firms’ stock returns by event study.
Findings
This paper finds that C2M announcements own a positive impact on the stock returns of supply chain firms. Further, the results show that the business and financial characteristics play a significant impact on the relationship between the C2M mode and firm stock return performance. For example, C2M mode leads to huge stock returns when firms cooperate with the platforms related to their business content. In addition, the business scope can strengthen the positive promotion of C2M mode in stock returns, while business concentration weakens the positive promotion of C2M mode in stock returns.
Originality/value
The results found in this paper can provide practical guidance for the firms in supply chains to further apply C2M mode from the business characteristics and financial performance view.
Keywords
Acknowledgements
The authors are grateful to editors and anonymous reviewers for their valuable and constructive comments. This work is supported by Major Program of the National Social Science Foundation of China (No. 21&ZD102).
Citation
Li, B., Xing, R., Guo, W. and Tang, S. (2023), "Firms’ value impact of C2M mode empowered by big data based on event study", Nankai Business Review International, Vol. 14 No. 4, pp. 746-764. https://doi.org/10.1108/NBRI-03-2023-0024
Publisher
:Emerald Publishing Limited
Copyright © 2023, Emerald Publishing Limited