The Survival Analysis and Empirical Study of Innovation, Exposure and the Performance of Listed Companies in China


Nijun Zhang , Fengru Sun ,

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Volume 7 - April 2018 (04)


In the context of a right economic situation, consumers prefer the appearance and new features of their products. Therefore, companies that develop new features and products with new appearances will perform better. As China's GDP has grown for 27 years (1980-2017), with an average growth rate of 9.57, the number of enterprises in the same industry has increased, and the competitiveness has also increased. During the 12th five-year plan period (2010-2015), the number of enterprises in the country increased by 92.3%, and the annual growth rate of high-tech manufacturing enterprises was 7.1%. In this context, consumers are increasingly inclined to purchase stylish and innovative products. Also, because of the increase in the number of companies with similar products and the increased competition, companies with high positive exposure, which companies actively promote through various media, have performed better. This article takes Shenwan Industrial Group's listed domestic appliance companies as the research object. To exclude the impact of scale on the research sample, only companies with average total assets of less than RMB 3 billion from 2014 to 2016 are selected. The COX model was used to test whether the level of innovation and exposure had a significant positive impact on the company's survival performance, to encourage companies to invest more resources in the company's innovation and advertising marketing.


Innovation, Exposure, COX Model, Survival Analysis, Household Appliance Industry


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