Research On The Measurement Of Competitive Advantage Of Listed Companiesin China's Sports Industry

As the global economic situation becomes more complex,companies are facing increasingly fierce competition.How the company obtains and maintains its own competitive advantage has always been the focus of the company's management strategy,and it is also a hot topic in academic research.In 1985,Porter systematically studied and published the theory of competitive advantage,and proposed the famous five-force model.The research mainly focused on the external factors of competition under the framework of organizational industry theory.Later,some scholars turned their perspectives into the inside of competitive advantage.They believed that internal capabilities and resources were the source of the company's competitive advantage,and proposed "core competence theory","resource foundation view",and "dynamic capability theory." But how to measure these concepts is not so easy.Because of the differences in perspectives and the complexity of conceptual definitions,the measurement of competitive advantage has been controversial.In the past two or three decades,China's sports industry has mainly concentrated on the sporting goods manufacturing industry,and most of them are engaged in the processing of assembly and assembly work.This is in line with the actual economic situation in China at that time,and it has formed a labor-intensive comparison.Advantage.But now in the new economic era,with the development of China's sports industry and the changes in the objective economic situation,the strategy of relying on manpower and natural resources in the past is facing increasingly severe tests.Therefore,some scholars have proposed that the development of China's sports industry should shift from labor-intensive to capital-and technology-intensive,from the strategy of comparative advantage to the cultivation of competitive advantage.Based on the above background,based on the theory of competitive advantage,this paper selects 12 listed companies in China's sports industry as samples,collects research data,establishes five indicators for measuring the competitive advantage of the company,and constructs a new comprehensive index by using the topsis analysis method.The company's competitive advantage is measured.At the same time,the relationship between different metrics and company value is analyzed.The two indicators of Tobin q value and P/E ratio are used to represent the company value.Research hypotheses are proposed,and then related analysis is carried out with different metrics to test the information content of different metrics..The research results show that:(1)China's sports industry listed companies have shown an upward trend in their competitive advantages in recent years,and various metrics have steadily increased;(2)using the topsis analysis method to rank the competitive advantages of China's 12 sports industry listed companies,the top three The position is Yueyuan International,Anta,and China's movements;the latter three are China Sports Industry,Xinlong Health,and Li Ning.(3)The relationship between the metrics of the competitive advantage of China's sports industry listed companies and the Tobin q value of the company's value is generally significant and positively correlated.(5)The comprehensive index of competitive advantage of listed companies in China's sports industry constructed by the topsis analysis method is objective and specific,with strong explanatory power and large information content.