It Investment,Environmental Uncertainty And Business Performance Research

The rapid development of a new generation of information technology,especially the rapid changes in technologies such as the Internet of Things,cloud computing,and blockchain,makes the real economy in the new era show a different development trend.Through the mutual integration with the Internet,industrial upgrading and development are promoted.The potential value of information technology resources is of great help for enterprises to form a competitive advantage.Many enterprises have invested in information technology,but there are large differences in investment performance.The relationship between information technology investment and enterprise performance has also attracted the attention of domestic and foreign scholars and enterprise managers.Enterprises are in the VUCA era,and the unpredictable external environment has become a new normal for all enterprises.However,corporate decisions cannot be made independently of the surrounding environment,and often need to respond to changes in the environment.The importance of information technology investment to different enterprises is not consistent,so enterprises will have different choices in information technology investment,so the role of information technology investment is not the same.This paper studies the effect of information technology investment on enterprise performance from the perspective of environmental uncertainty.On this basis,according to the results of different industries and property rights classification,it further studies the impact of environmental uncertainty on the relationship between the two.This paper selects the data of 1018 A-share listed companies in Shanghai and Shenzhen from 2014 to 2020 as samples,and discusses the listing of different industries and different property rights on the basis of resource-based view,contingency theory,dynamic capability theory,principal-agent theory and other related theories.The relationship between a company’s information technology investment and its corporate performance,and the role of environmental uncertainty in the relationship between information technology investment and corporate performance,put forward hypotheses based on the relationship between these variables,draw research conclusions through empirical analysis results,and put forward Related recommendations.The study found that:(1)Information technology investment has a positive effect on corporate performance.Among them,information technology investment in technology-intensive enterprises has a very significant effect on improving enterprise performance,while in labor-intensive and capital-intensive enterprises,information technology investment has no significant effect on improving enterprise performance.In state-owned enterprises and non-state-owned enterprises,information technology investment plays a significant role in improving enterprise performance.(2)In the full sample,environmental dynamics have a negative moderating effect on the relationship between information technology investment and enterprise performance,while environmental richness and environmental complexity have a positive moderating effect on the relationship between information technology investment and enterprise performance.After the division of industries,the moderating effects of environmental dynamics and environmental richness exist in labor-intensive and capital-intensive enterprises,but not in technology-intensive enterprises.The moderating effect of environmental complexity exists in labor-intensive and technology-intensive industries,but not in capital-intensive industries.After further division of property rights,the moderating effects of environmental dynamics and environmental richness on the relationship between information technology investment and enterprise performance in state-owned enterprises and non-state-owned enterprises are consistent with the conclusion of the full sample,and the moderating effect of environmental complexity is only in non-state-owned enterprises.exist in the enterprise.