Research On The Influence Of Investment Congestion On The Profitability Of China's E-Commerce Platform Listed Companies

A large number of researches in the e-commerce field shows that in order to win the market size and market position,most e-commerce enterprises adopt the development idea and development strategy that to benefit from scale and to market at a low price,which leads to the situation that to many e-commerce platform enterprises operate in deficit.Such quick expansion of scale and development model does not match to the internal management of enterprises and the coordinated development of the value chain links,resulting in unreasonable allocation of resources,and even the waste of resources.The thesis chooses to discuss the influence of the congestion of production factors on the profitability of the listed companies,and use the relevant theories and models to measure the quantity of "congestion" of the listed enterprises in the e-commerce platform,and then to find out the root cause of the waste of resources and therefore,to improve the profitability.First of all,according to the literature review of domestic and foreign research,the thesis defines the concept of e-commerce platform enterprises and congestion,and then according to relevant theories,the thesis puts forward the research hypothesis through making the congestion of the total cost of business,the congestion of total assets,and the congestion of the number of employees the research variables.Secondly,in order to effectively reflect the status of our e-commerce platform enterprises and the congestion of the factors of production,the author of this thesis chooses the three-stage DEA model and SFA regression analysis to eliminate the influence of environmental factors and random errors.And then through the regression analysis of the profitability of enterprises,the thesis verifies the research model and assumptions.The empirical results show that the congestion of production factors has an impact on the profitability of listed companies,but the impact on the enterprises of tangible products is not significant.Finally,according to the empirical results,combined with the actual situation,the thesis proposes the strategies on the two types of e-commerce listed companies to reduce waste of resources and improve profitability respectively.The author of thesis believes that the intangible service e-commerce platform enterprises can increase human resources investment appropriately,reduce operating costs,and narrow the scale of assets;and the tangible products e-commerce platform enterprises could obtain a stable market position through innovating the operating mode,expanding the sales channels of enterprises and forming their own unique profit model.Making the enterprise labor force,material resources,and financial factors of production into the congestion situation the research variables,the thesis discusses the relationship between the profitability of the e-commerce listed companies and the congestion.The research is significant for helping enterprises to reduce the operating costs,improve the operational efficiency,enhance the profitability and to maintain the core competitiveness and sustained growth potential and long-term development.What's more,the research is also practically meaningful for business managers to make decisions of management,for investors to make decisions of investment,and for government and other relevant departments to formulate relevant industrial policies.