The impact of the internationalization of China’s new retail industry on corporate performance—A moderating effect based on proprietary assets

The purpose of this study is to examine the factors influencing China's new retail industry on corporate performance. We mainly design the adjustment effect of the internationalization of its new retail industry on corporate performance and proprietary assets.The framework is based on dynamic panel data of 590 listed companies in China's new retail industry from 2007 to 2019.We apply the concept of big data for the analysis and investigation, including the DOI explanatory variable for the degree of internationalization, Tobin's Q explained variable, and adjusted variable of proprietary assets (R&D intensity RDI, marketing intensity MI, and capital intensity CI). We found that the degree of internationalization of the new retail industry has a positive impact on corporate performance.The resultant findings only reflect the setting of China's new retail marketplace. With the research model developed here in, future research can target cross-country studies of various forms of online and offline market sites to determine regional differences in the development of new retail activities.The results show that the major new retail industry is a multi-channel concept that affects overall corporate performance. The authors focus on corporate performance, which is a moderating effect based on proprietary assets.