A Study On The Influence Of Earnings Volatility On Enterprise Value Of Listed Companies In Information Technology Industry

Information technology industry is one of the seven key industries in the development of China's strategic emerging industries.It is characterized by active innovation,strong penetration and great driving force.It is widely regarded as an important force leading the future economic,scientific,technological and social development.This paper chooses the listed companies in the information technology industry as the research object,trying to find an effective way to promote their development.This paper selects the data of 137 listed enterprises in the information technology industry from 2013 to 2018 and analyzes the influence of earnings volatility on enterprise value.Meanwhile,it also explores the mediating role of R&D intensity in this process.By combing theories and literatures,this paper has preliminarily constructed a theoretical framework,clarified the theoretical reasons and research progress of the influence of earnings volatility and R&D intensity on enterprise value of listed companies in information technology industry,and provided references for the research of the following articles.With information technology industry general development situation,earnings volatility general situation,R&D intensity general situation,enterprise value general situation four aspects of analysis,beginning the empirical analysis,I had put forward the research hypothesis,variables design,model design.Then,I had carried on a series of analyses.and concluded that the information technology industry listed companies earnings volatility plays a positive role in promoting enterprise value,the information technology industry listed companies earnings volatility plays a positive role in promoting R&D intensity,the information technology industry listed company R&D intensity plays a positive role in promoting enterprise value,R&D intensity plays a mediating role in the process of earnings volatility promoting enterprise value.Finally,this paper puts forward some suggestions for the development of information technology industry.