中文摘要：

信息技术的飞速发展使企业在IT上的投资不断加大，IT投资不仅会为企业带来有形收益，还会改善企业未来的经营绩效，为企业创造无形价值和带来成长机会，这些由IT投资带来的无形收益能对企业的市场表现产生一定的影响。选择2001—2011年我国上市公司中披露IT投资的4335个样本观测值，通过回归模型检验了IT投资与企业市场价值的关系。实证结果表明：IT投资对企业的市场价值有正向的影响，并且IT投资对市场价值的影响远大于非IT投资。另外，IT投资对非制造业企业市场价值的正向影响比制造业更加明显。

英文摘要：

The rapid development of information technology makes it possible for enterprises to increase their investment in IT assets, which will bring about tangible benefits, improve future operations, create intangible values and lead to growth opportunities. Therefore, IT investment may have an impact on corporate market value. Based on the 4 335 samples from the Chinese listed companies disclosing their IT investment from 2001 to 2011, a regression analysis was given to examine the relationship between IT investment and corporate market value. The empirical results showed that IT investment exerts a significantly positive effect on corporate market value. Furthermore, it was found that IT investment has a much stronger effect on corporate market value than non-IT investment. Compared with the manufacturing industry, IT investment has a more positive effect on the market value of non-manufacturing sectors.