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在新产品开发过程中,企业在什么时候、以多快的频率对外公开发布其正在研发的新产品的信息,是其管理者需要慎重决策的问题。对发布新产品信息的频率,目前尚未找到直接的研究文献;对首次发布信息时间,已有的文献也还很有限。以有效市场理论和信号理论为基础,以过去十余年中国大陆上市公司公开发布的数百个新产品项目为样本,把事件研究法和回归分析相结合,本文研究了首次发布新产品信息的时间、新产品信息发布频率等策略对新产品市场价值的影响,以及新产品的创新性、开发中的外部合作策略对信息发布策略的效果的调节作用。结果显示,信息发布的频率、首次信息发布时间早晚与新产品的市场价值都存在倒U形的关系;外部开发合作对上述两种信息传播策略的效果存在负向调节作用;新产品的创新性对首次信息发布时间的效果存在正向调节作用。这些结果对于研发阶段企业制定新产品信息的传播策略具有理论价值和现实意义。
In the process of new product development, when and how often companies openly disclose the information they are developing on new products is the question of how managers need to make careful decisions. No direct research literature has been found on the frequency with which new product information is released; there is still limited literature on the timing of initial publication of information. Based on the effective market theory and signal theory, taking the hundreds of new product projects publicly listed by mainland listed companies in the past more than ten years as a sample, the event research method and the regression analysis are combined. This paper studies the first release of new product information Time, new product information release frequency and other strategies on the market value of new products, as well as the innovativeness of new products, the development of external cooperation strategy on the effectiveness of information dissemination strategy regulation. The results show that there is an inverted U-shaped relationship between the frequency of information release, the time of the first information release and the market value of new products. The external development cooperation has a negative regulatory effect on the effectiveness of the two information dissemination strategies. The innovation of new products There is a positive regulatory effect on the timing of the first release of information. These results have theoretical value and practical significance for the development strategy of enterprises to develop new product information.