电商平台自有品牌引入与股权投资策略研究

doi:10.16381/j.cnki.issn1003-207x.2022.1397

摘要/Abstract

摘要：

自有品牌的引入使得供应链内部股权合作变得日趋复杂。本文构建由制造商与电商平台组成的供应链，研究电商平台的自有品牌引入与股权投资策略，并分析投资效率、持股比例和品牌优势等参数对电商平台投资决策的影响。研究发现：电商平台始终偏好引入自有品牌，引入自有品牌提高了电商平台采取股权投资策略的可能性，并使其为制造商品牌产品付出更多的市场开拓努力。无论是否引入自有品牌，电商平台都会在投资效率较高时采取股权投资策略。当投资效率较低时，电商平台倾向于在持股比例较小时采取股权投资，而当持股比例较高时，电商平台的股权投资策略取决于两种品牌优势的大小。具体而言，电商平台会在制造商品牌优势较大且两种品牌优势差距较小，或者在自有品牌优势显著时采取股权投资策略。

关键词: 电商平台, 股权投资, 自有品牌, 制造商品牌

Abstract:

With the increasingly fierce international competition， company competition is gradually changing to supply chain competition. E-commerce platforms are actively strengthening deep cooperation within the supply chain to enhance overall competitiveness， such as equity investments. Especially in a market with huge growth potential， e-commerce platforms are trying to find supply chain equity partners to expand the market. In recent years， however， the rise of private labels has provided them with new options， which has made equity partnerships increasingly complex. More and more e-commerce platforms are considering introducing private labels to seize the market alone or in partnership with manufacturers. In other words， e-commerce platforms need to weigh the gains from equity investment in market expansion against the loss of private label market share due to increased competition. Therefore， based on the market competition brought by private labels， a supply chain composed of a manufacturer and an e-commerce platform is established. By comparing the change of the e-commerce platform's profit with private label introduction， whether the e-commerce platform will invest in upstream manufacturers after private label introduction is studied. Further， the e-commerce platform's private label introduction strategy is studied and the impact of private label introduction on the e-commerce platform's equity investment strategy is analyzed. It is found that the e-commerce platform always tends to introduce private label， which increases the likelihood of adopting equity investment strategy. Further analysis shows that the e-commerce platforms's equity investment strategy is affected by investment efficiency， shareholding ratio and brand advantage. When the investment efficiency is low， the e-commerce platform tends to take equity investment with lower shareholding ratio. However， when the shareholding ratio is high， the e-commerce platform's equity investment strategy depends on two brand advantages. Specifically， in the case of large advantages of national brand and small gap between the two brands， the e-commerce platform adopts equity investment strategy. Or， in the case of significant advantages of private label， the e-commerce platform adopts equity investment strategy. These conclusions provide a possible explanation for the significant differences in equity investment strategy of e-commerce platforms after private label introduction.

Key words: e-commerce platform, equity investment, private label, national brand

中图分类号:

F272.3

曹裕,王云佳,易超群. 电商平台自有品牌引入与股权投资策略研究[J]. 中国管理科学, 2026, 34(5): 195-205.

Yu Cao,Yunjia Wang,Chaoqun Yi. Research on Private Label Introduction and Equity Investment Strategy of E-commerce Platform[J]. Chinese Journal of Management Science, 2026, 34(5): 195-205.

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