Research On The Level Of The Servitization Of Equipment Manufacturing Industry And Its Impact On Corporate ROE

The equipment manufacturing industry provide equipment used in the production for other industries,it relate closely to other industry,also as the main part of manufacturing industrial,it’s vital important to the development of economy.But the equipment manufacturing industry of our country is in the backward situation,it’s necessary to transform and upgrade,at this point,the evolution to servitization become a good choice.However,the research of servitization in academe mainly concentrated in the whole manufacturing industry,this paper targeted to research the servitization of equipment manufacturing industry,it’s meaningful to rich research and offer practical guide.Based on the division theory of labor,value chain theory,competitive strategy theory and the evolution theory of industrial structure.this article analyzes the driving factors of the servitization of equipment manufacturing industry,they are to meet the demand of customers,gain a competitive advantage,to adapt to the era of knowledge economy,and increase the economic benefit,yet define the four developmental stages of equipment manufacturing enterprise to realize servitization.While analyzing the development situation of equipment manufacturing industry in our country,and from the input and output level to measure the servitization level of equipment manufacturing industry in our country.In terms of investment,data from the input-output tables In recent five years,On the basis of this,calculating The direct consumption coefficients and completely consumption coefficients of each sub equipment manufacturing industry counter each service,and each sub equipment manufacturing industry counter total service,the greater the coefficient value,the higher level of servitization,the lower conversely.In terms of output,based on the equipment manufacturing industry annual reports which listed,this paper reflects the output servitization via two measures,including the statistics of each enterprise to provide services and the percent of the service revenue accounted for total revenue of each company;after selecting the qualified sample enterprises,establishing the empirical model,it has empirica analyzed the relationship between the servitization and return on equity of each enterprise yield 10 years panel data.Results show that the servitization of equipment manufacturing industry in our country are not enough,no matter input aspect or output,it’s short of investing on newly-developing service industries,and there is great potential in capital intensive services and technology intensive services to deepen the servitization of equipment manufacturing industry,but there is a phenomenon of "dilemma" of servitization on the level of servitazation to corporate return on equity,and the curve are different on account of different sub-industry,there are "U" curve,"inverted U" and "saddle type",according to the characteristics of different subsectors,they spend a different amount of time to get into and out of the dilemma of "service".