中文摘要：

以2010—2015年我国A股非金融类上市公司数据为样本，利用事件研究法、多元回归分析法考察了渠道创新对公司价值的作用机制，在此基础上对比分析了不同渠道创新模式对公司价值影响的差异。研究结论证实了渠道创新会对公司价值产生积极影响，在创新开放度差异方面，开放式渠道创新对公司价值的影响强于封闭式渠道创新对公司价值的影响；焦点企业声誉会正向影响开放式渠道创新与公司价值的关系，而对封闭式渠道创新与公司价值的关系不会产生显著影响；行业竞争会负向影响开放式渠道创新与公司价值的关系，而对封闭式渠道创新与公司价值的关系不会产生显著影响。

英文摘要：

Taking the data of A -share non-financial Chinese listed firms in the periods between 2010 and 2015 as the samples, this paper uses the methods of event study and multiple regression analysis to discuss the firm value creation through channel innovation. On the above basis, it contrastively analyzes the differences that different channel innovation modes have influenced over the firm value. The research results have verified that channel innovation has positive influence over firm value. Regarding innovation openness differences, the influence of open channel innovation over firm value is stronger than that of closed channel innovation. The firm reputation has positive effect on the relationship between closed channel innovation and firm value, while industry competitiveness has negative effect on it. Both firm reputation and industry competitiveness have no significant effect on the relationship between closed channel innovation and firm value.