ASU Electronic Theses and Dissertations
This collection includes most of the ASU Theses and Dissertations from 2011 to present. ASU Theses and Dissertations are available in downloadable PDF format; however, a small percentage of items are under embargo. Information about the dissertations/theses includes degree information, committee members, an abstract, supporting data or media.
In addition to the electronic theses found in the ASU Digital Repository, ASU Theses and Dissertations can be found in the ASU Library Catalog.
Dissertations and Theses granted by Arizona State University are archived and made available through a joint effort of the ASU Graduate College and the ASU Libraries. For more information or questions about this collection contact or visit the Digital Repository ETD Library Guide or contact the ASU Graduate College at gradformat@asu.edu.
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- Creators: Shen, Wei
Description
Over the past two decades, propelled by urbanization, domestic investment and construction of commercial complexes have rapidly accelerated. This has led to a dramatic expansion of these complexes with swift operational iterations and related data changes. The impact of changing domestic and international financial policies, along with political environments, has seen e-commerce gradually seize the middle and low-end retail markets. Additionally, the global spread of the COVID-19 pandemic in the last three years has resulted in a substantial slowdown in domestic economic growth. Despite this, there is still developmental potential, prompting unprecedented attention to corporate investment and commercial operations.However, acquiring basic operational data in commerce is challenging, with inconsistent measurement standards among enterprises, hindering accurate and systematic judgments of operational performance. The factors influencing the operational performance of commercial complexes in China remain inadequately researched.At this juncture, the scientific measurement of commercial complex operational performance is crucial for their healthy development. This study explores the relationship between enterprise investment behavior, operational management behavior, and commercial complex operational performance. It measures influencing factors using resource configuration theory to control uncontrollable environmental factors, such as urban hierarchy, surrounding population, per capita GDP, surrounding commercial inventory and increment, and location planning support. Dynamic capability theory is then applied to investigate the impact of variables like the number of leases, area, brands, lease cost income, marketing activity types, activity funds, and activity time on operational performance. A model is established to analyze operational performance, contrasting significant variables before and after the pandemic, identifying factors affecting operational performance in early-stage investment and later-stage management strategies. Post-pandemic adjustments are suggested to adapt to changing environmental conditions.In the empirical research section, this paper validates the theoretical model through data analysis, studying the volatility of operational performance based on factors influencing commercial complexes. Integrating theoretical backgrounds, it analyzes investment and management strategies for enterprises in different situations, emphasizing key indicators. This provides enterprises with better choices for future projects and empowers commercial complex managers for effective future management, enhancing operational performance. The study offers a theoretical basis and guidance for promoting the healthy development of the market.
ContributorsHuang, Ke (Author) / Shen, Wei (Thesis advisor) / Zhu, Qigui (Thesis advisor) / Hu, Yu (Committee member) / Arizona State University (Publisher)
Created2024
Description财富管理是一个高度信息不对称的行业，因此投资人需要尽可能减少自身的不确定来做投资决策，通过文献整理，本文发现通过建立信任来消除不确定性是很多投资人都会选择的帮助投资决策的方法。纵观历史，美国2007-2008年的金融危机也恰恰导致金融市场投资人对于理财机构信任的严重缺失，相同的情况也可能发生在中国财富管理市场，因此本文将此选作研究重点，希望深入研究财富管理公司投资人对理财师的信任来得到一系列结论。本文最终发现就平台和理财师相比，投资人更看重平台的信誉度。 投资人大多认为平台的信誉度要高于理财师的信誉度，但是这并不意味着理财师不重要。本文进一步的分析发现，多数投资人会和理财师建立起一种私人联系，且该私人关系有助于加强客户和平台的联系。投资人认为行业经验、为人诚恳，说话可信以及责任心是加强这种私人关系的重要因素。最后，投资人对于钜派平台的信任主要由对于理财师的信任来维持，同时对于理财师的信任主要来自与情感信任。本文的发现对财富管理平台具有战略意义。
ContributorsWu, Qimin (Author) / Shen, Wei (Thesis advisor) / Chang, Chun (Thesis advisor) / Zhu, Hongquan (Committee member) / Arizona State University (Publisher)
Created2019
Description企业并购作为一项重要的经济手段，在世界经济主体的活动中承担着重要的角色。相较于企业内部积累式的扩张，并购是企业快速扩大规模、或者进入新领域的非常好的途径。近年来，中国上市医药企业的并购层不出穷，然而，并购是否在恰当的时机进行，同时又是否达成预期的目标，对于多数主并购企业及其经营者而言，未有定论。上市药企拥有大量二级市场投资者股东，针对A股上市医药企业的并购行为进行评价，最直接及有效的方式是对并购事件引发的市场反应进行检验，市场反应是投资者针对事件评价的表现。
本文在西方系统化的并购理论基础上，试图通过引入行业及企业层面的相关变量对近几年（2013年至2018年）A股医药并购事件的短期效绩水平进行评价。通过逐层递进的方式，对“在A股医药行业波动及其收益影响下，医药企业并购决策对市场投资者反应（公告期绩效）的影响”进行了探讨。
本文首先通过对文献综述、企业并购及市场反应理论、企业并购绩效及其市场投资者反应影响因素等做了系统的概念及理论的阐述和总结。
其次，分别通过事件研究法、多元回归分析法对379家企业共428起并购事件进行不同层面（行业层面：市场波动及收益；企业层面：企业规模、负债率、并购规模、企业盈利能力、企业性质、并购前12个月是否存在并购）影响因素条件下，不同并购决策的市场投资者反应实证研究。并对企业并购的相关内外部控制变量和并购市场投资者反应（绩效）的相互关系进行了探讨。为医药并购决策者以及投资人提供参考。
关键词: 企业并购；并购绩效；行业波动；市场投资者反应
本文在西方系统化的并购理论基础上，试图通过引入行业及企业层面的相关变量对近几年（2013年至2018年）A股医药并购事件的短期效绩水平进行评价。通过逐层递进的方式，对“在A股医药行业波动及其收益影响下，医药企业并购决策对市场投资者反应（公告期绩效）的影响”进行了探讨。
本文首先通过对文献综述、企业并购及市场反应理论、企业并购绩效及其市场投资者反应影响因素等做了系统的概念及理论的阐述和总结。
其次，分别通过事件研究法、多元回归分析法对379家企业共428起并购事件进行不同层面（行业层面：市场波动及收益；企业层面：企业规模、负债率、并购规模、企业盈利能力、企业性质、并购前12个月是否存在并购）影响因素条件下，不同并购决策的市场投资者反应实证研究。并对企业并购的相关内外部控制变量和并购市场投资者反应（绩效）的相互关系进行了探讨。为医药并购决策者以及投资人提供参考。
关键词: 企业并购；并购绩效；行业波动；市场投资者反应
ContributorsMiao, Fengdong (Author) / Shen, Wei (Thesis advisor) / Yu, Xiaoyun (Thesis advisor) / Zhu, Hongquan (Committee member) / Arizona State University (Publisher)
Created2020