Research On The Growth Impact Of The Asset-light Strategy

Asset light business model since the last century,made in 80 s by McKinsey & company,because of its own core competition of high added value,high reproducibility and brought Gao Yingli,high growth,accepted by more and more enterprises and try,from the beginning of the Nike,apple,Facebook,to the Alibaba,Tongrentang,asset light business model reflects the value of the whole industry chain,the most scarce resources,which is in a very worthy of study object for economic restructuring in Chinese.At present the whole industry chain,economic value added more to the innovation and development and brand creation in the starting point and end point the direction of transfer,manufacturing sectors and is located in the middle of the increasingly thin profits,so the research status of innovation and marketing in the economic operation of the increasingly prominent.In the light assets operation mode,the core competition of a company is highly consistent with the "smile curve".What kind of effect will it get if its growth is continuously invested in R&D and marketing? This thesis will make a study on it.After summarizing the research results of predecessors,combined with the characteristics of the sample objects,this thesis puts forward the hypotheses,and builds relevant models to test the hypotheses.A comparative study was made on the group of Chinese A shares listed in A for 4 years from 2011 to 2016.IBMSPSS statistics21 and stata11.0 software are used to analyze the model,and the conclusions are as follows:(1)Current R&D investment and marketing investment all have a direct positive impact on the growth of enterprises,and the growth of "light assets" enterprises is more sensitive to R&D investment and marketing input.(2)Both R&D input and marketing input have a positive lag effect on the growth of the enterprise.Compared with nonlight assets enterprises,the lag time of R&D investment of light assets enterprises is much shorter than that of nonlight assets enterprises,while R&D investment has greater influence on the growth of enterprises with lagging behind.According to the research conclusion,the paper finally proposed when capital is relatively abundant cash flow,the pressure is small,we can in the development of innovation and supply chain maintenance,branding and other aspects of a comprehensive development,when enterprises are facing higher funding pressures,marketing activities can provide,rapid,long-term,and strong-support.And because the R&D investment enterprises often need to consume more money,so the R&D activities can be based on the actual situation of enterprises reduced suggestions.