Influence Of IT Investment On Total Factor Productivity Of Retail Industry

Since the reform and opening up,China's information industry has developed rapidly and achieved remarkable achievements.Over the period from 2001 to 2016,increasing the added value of the information industry in our country,the status of information industry in the whole national economy rising,contribution of information technology for economic growth and the contribution rate showed a trend of rising.Retail industry is the pillar industry of national economy in our country,with the development of modern communication technology,the popularity of the Internet and the emergence of all B2 C,C2C and O2 O platform,with the aid of electronic business transformation and upgrading of the traditional retail at the same time,the use of information technology is more and more widely,but the empirical study of information technology investment in O2 O platform is a great shortage of the retail industry.Based on this the paper will discuss the relationship between the O2 O mode of domestic retail enterprise information technology investment and the total factor productivity,and further decomposition of the investment in information technology to explore the role of internal mechanism.Based on the theory of production function,resource-based view,competitive strategy and complementary theory,this paper analyzed the theoretical mechanism between information technology investment and the total factor productivity,and explored how information technology investment to influence enterprise total factor productivity.After that,we analyze the current situation and existing problems of China's retail information technology investment,and use the semi-parametric method to measure the total factor productivity of 39 listed retail enterprises in China from 2007 to 2016.In the end,we do empirical analysis of the microcosmic angle,which is to test the impact of investment in information technology software and hardware investment in the total factor productivity of the enterprise.The results show that the whole information technology investment has not significantly improve the total factor productivity,information technology hardware investment has no significant effect on total factor productivity,but information technology software investment has significantly improved the total factor productivity.Therefore,when investing in the information technology of domestic retail enterprises,we should not blindly emphasize the purchase of hardware equipment.We should pay attention to the input of information technology software and give full play to the "soft power" of information technology.Finally,based on the above theoretical and empirical analysis,this paper puts forward the policy suggestions for increasing the investment of information technology software to accelerate the transformation and upgrading of China's retail enterprises.