Study on Enterprise Value and Asset Structure Optimization of the Iron and Steel Industry in China under Carbon Reduction Strategy

• 발행기관: 한국유통과학회
• 저자명: Hong Hong ZHU Yue Yao SUN Jin Bao LI
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 9 No.3, 11~22쪽, 전체 12쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.03.30

영문 초록

The iron and steel sector is caught between two worlds: “carbon reduction” and “development.” The goal of this study is to show that optimizing asset structure to boost intangible assets, particularly brand assets, is a viable strategy to achieve low-carbon development. This study uses panel data from 38 A-share companies in China’s iron and steel industry from 2010 to 2020, as well as World Brand Lab data, to create a comprehensive impact index of enterprise value from the standpoint of an asset structure optimization, and to test the impact of intangible assets and brand equity on enterprise value. The findings show that: the asset structure of iron and steel enterprises is closely related to enterprise value, implying that iron and steel industry development necessitates a transformation of quantity control and quality improvement; the proportion of intangible assets in the asset structure of iron and steel enterprises plays a positive and critical role in enterprise value under surplus conditions. The iron and steel industry begins to shift from tangible to intangible assets; there is heterogeneity in the iron and steel industry transformation. Given certain technological levels, the share of brand assets contributes significantly to the increase in enterprise value.

목차

1. Introduction

2. Development History of China’s Iron Steel Industry

3. Theoretical Basis and Research Hypotheses

4. Data and Methodology

5. Results and Discussion

6. Conclusion and Suggestions

References

키워드

Enterprise Value Asset Structure Optimization Iron and Steel Industry Low-Carbon Sustainable Development