Research On The Influence Of Servicing On The Value Of Telecommunication Equipment Manufacturing Enterprises

In order to achieve the rising position of my country's manufacturing industry in the global value chain,the State Council has repeatedly emphasized in documents such as "Made in China 2025" that it encourages manufacturing enterprises to transform into services and emphasizes that the development of service-oriented manufacturing is the path to building a "manufacturing power." As the first pillar industry of my country's economic development,the telecommunications equipment manufacturing industry has become an important measure for its servicing strategy to accelerate the upgrading of the industrial chain and gain new competitive advantages.However,as the degree of servicization deepens,enterprises will gradually face resource constraints such as technology,talent,and capital,and the effect of the implementation of servicing strategies will also be affected.In business practice,companies often use their social capital to obtain resource support,accelerate the transfer of technology,talent,capital and information from outside the company to the inside of the company,reduce the risks and costs of service innovation,and ensure the smooth implementation of the service strategy.In this context,studying the relationship between the servicization of listed companies in the telecommunication equipment manufacturing industry and corporate value,as well as the role of corporate social capital in regulating the relationship between the two,has very important theoretical and practical significance.After proposing the proposition of "the influence of servicing on corporate value under the adjustment of corporate social capital",this paper adopts the literature researc-h method and empirical research method to gradually carry out the research along the logical thinking of "theoretical analysis-empirical test-conclusion suggestion".First,based on relevant theories and literature,explore the relationship between servicing,corporate social capital,and corporate value,while taking into account the characteristics of differe-nt servicing strategies and different types of corporate social capital,analyze the three relationships in detail and put forward research hypotheses.Secondly,using the data of63 listed companies in China's telecommunications equipment manufacturing industry fr-om 2011 to 2019 as a research sample,we will examine the impact of "integration-ori ented" servicization,"function-oriented" servicization,and "integration-oriented" servicingon corporate value;After that,from the perspective of corporate social capital,we will exam ine the role of financial social capital,market social capital,and institutional social capit-al in regulating the relationship between servitization and corporate value.Finally,summ arize the conclusions of the empirical research,and put forward corresponding suggesti-ons accordingly.Through research,this article finds that “integration-oriented” servicing has a signifi-cant positive impact on corporate value;Market social capital has a significant positive regulating effect on the relationship between the two;Institutional social capital has a s-ignificant positive regulating effect on the relationship between the two,while financial social capital has no significant regulating effect on the relationship between the two."Function-oriented" servitization has a significant positive impact on corporate value;Financial social capital has a significant positive adjustment effect on the relationship between the two;institutional social capital has a significant positive adjustment effect on the relationship between the two;market social capital has no significant adjustment eff-ect on the relationship between the two."Integration-oriented" servitization has a signif-icant negative impact on corporate value.Market social capital can weaken the negativ-e impact of "integration-oriented" servitization on corporate value;Institutional social capital will strengthen this negative impact;Financial social capital There is no significa nt regulating effect on the relationship between the two.Based on this,this article propo-ses that the government should establish a public service platform and build a harmonious government-enterprise relationship to help telecommunications equipment manufac-turers achieve better transformation and upgrading;Telecommunications equipment manufacturers should obtain service resources through the formation of strategic alliances a-nd be guided by a service strategy Implement resource portfolio strategy.