An empirical test of the impact of multidimensional shocks of trade war on the comprehensive performance of cross-border e-commerce based on principal component analysis

By analyzing the relationship between multidimensional shocks of trade war and on the comprehensive performance of cross-border e-commerce, it can help the policy makers of China's cross-border e-commerce to better follow the different degrees of importance, and give the corresponding policy recommendations in a targeted manner. Based on the panel data of China's listed cross-border e-commerce companies from 2013 to 2022, this paper measures the comprehensive performance of cross-border e-commerce by combining the principal component analysis method, and then constructs a multi-period double-difference model to test the impact of trade war multi-dimensional impact on the comprehensive performance of cross-border e-commerce, quasi-natural experiments with the establishment of trade war multi-dimensional impact test zones. It is found that when the level of trade war multidimensional shocks increases by 1%, the level of comprehensive performance of Chinese cross-border e-commerce enterprises is suppressed by 3.85%, i.e., reducing trade war multidimensional shocks can enhance the comprehensive performance of Chinese cross-border e-commerce enterprises. Therefore, cross-border e-commerce exporters and manufacturing enterprises should take early warning precautions, do well to take countermeasures, establish independent brands, form core competitiveness, and accelerate the upgrading and transformation of industries.