Research On The Impact Of The Partner System Of Wangfujing Business On Its Financial Performance

The rise of e-commerce is an important factor that cannot be expected but cannot be ignored in the development of physical supermarkets.Under this impact,the development of physical supermarkets is struggling.In addition,due to the influence of the principal-agent problem that commonly exists in enterprises,there are also problems in the management and operation of enterprises.Under such a background,some enterprises began to seek another way out,hoping that the introduction and implementation of the business partner system would help enterprises improve their competitiveness,overcome difficulties,and empower the long-term development of enterprises and improve financial performance.This paper will study the institutional partner system of Wangfujing Department Store Group,and discuss the economic effect of Wangfujing’s introduction of the institutional partner system through literature analysis,combining with the relevant theoretical basis and the actual case of Wangfujing.In the theoretical basis part,through the induction and summary of the literature,the four theories of human capital,incentive,corporate governance and principal-agent are the foothold of the study.From then on,the motivation and economic consequences of Wangfujing’s implementation of the business partner system are analyzed.In the case study,the practice of implementing the business partner system in Wangfujing was taken as the research subject,and the reasons and specific contents of its implementation of the system were sorted out.Then,the event study method was used,and the time point when Wangfujing announced the introduction of the business partner system was taken as the event date,and the appropriate window period was selected to explore whether the introduction of the business partner system had a positive impact on the market response.Then the relevant financial data from 2013 to 2021 will be used to explore whether the introduction of the Wangfujing business partnership system has a positive impact on its financial performance.This paper uses a variety of research methods,including literature analysis,case study and accounting indicators.Through the relevant theoretical basis and combined with the research results at home and abroad,the implementation of the Wangfujing partnership system is studied.First of all,it analyzes the market reaction brought by the introduction of the business partner system,and in order to increase the pertinence of the business partner system in the study,it selects Wushang Group as a reference sample to conduct a comparative study of the enterprise’s operating capacity,solvency and other capabilities,and draws a conclusion;The partnership system of Wangfujing Business has benefited most of the "partners",successfully stimulated the enthusiasm of employees,enhanced and improved the operation and development of the enterprise in many ways,and improved the overall performance of the company.In view of the problems existing in the implementation of the Wangfujing business partner system,the author puts forward corresponding improvement suggestions,hoping to help Wangfujing consolidate the benefits brought by the business partner system and provide reference for other enterprises.