Brand Competitiveness and High-Quality Development of Enterprises: From an Investment Efficiency Perspective
WANG Huacheng , ZHANG Jie , ZHANG Chaomin , SUN Changling
Front. Bus. Res. China ›› 2025, Vol. 19 ›› Issue (2) : 164 -188.
Brand Competitiveness and High-Quality Development of Enterprises: From an Investment Efficiency Perspective
Brand competitiveness is a significant indicator of high-quality development of enterprises and a pivotal factor in an enterprise’s pursuit of long-term growth. Using panel data on Chinese A-share listed companies from 2007 to 2021, this study constructs a measure of brand competitiveness using textual analysis and empirically examines its effect on corporate investment efficiency. The results reveal that brand competitiveness mitigates inefficient investment through two distinct channels: the reputation constraint mechanism and the information acquisition mechanism. These effects are more pronounced in environments characterized by intense market competition, advanced managerial cognition, and sustained brand competitiveness. Additionally, brand competitiveness is shown to significantly enhance total factor productivity, thereby supporting high quality development of enterprises. The findings offer practical implications for enterprises aiming to strengthen brand competitiveness and advance toward high-quality development.
brand competitiveness / investment efficiency / reputation constraints / information acquisition / high-quality development
Higher Education Press
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