Effect of intelligent logistics policy briefings on shareholder value: evidence from Chinese logistics companies

This paper investigates the effects of intelligent logistics policies briefings (ILPBs), which are a kind of special press conference, on the shareholder value of the 149 listed logistics companies in China. For macro factors, the authors find that ILPBs will result in a positive stock market reaction, and the mean abnormal return on the event day is 0.728%. For micro factors, an ILPB has a more positive impact on the market value of larger enterprises. The business types do not affect the degree of market reaction. For the characteristics of policy briefings, the market reaction will be more positive as the proportion of the intelligent logistics content in the conference increases. Policy briefings with two different topics will result in more positive stock market reactions than those with one. Finally, the authors compare the market reactions of ILPBs with those of official policies.


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  • Accession Number: 01881474
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Apr 27 2023 5:13PM