中国上市公司多元化经营程度与企业绩效关系

【作者】 云丽娜；

【导师】 黄旭；

【作者基本信息】 西南财经大学 ， 企业管理， 2006， 硕士

【摘要】 多元化与企业绩效关系的研究是战略管理、产业经济、财务管理的重要课题。关于它的争论不管是在实务界,还是在理论界一直以来就很激烈。我国大量企业采用多元化战略以增强企业实力和经济规模是因为多元化经营战略具有快速扩大公司规模、使公司整体业绩超过各业务部门业绩的简单协同作用。但是,目前在国内多元化经营过程中,许多企业的跨行业成长不仅没有提高企业的绩效反而使其背上沉重的包袱甚至破产。在理论界,从60年代开始,对于多元化与企业绩效关系一直以来就没有形成统一结论。各国学者分别从战略管理、产业经济学、公司治理、财务管理等多个角度对其阐释。发展到目前为止,主流观点认为能够很好将企业核心能力移植的相关多元化战略能够提高企业绩效。但是这一结论的研究对象是发达市场经济的欧美国家,市场体制的完善为多元化的制定和实施提供了条件,使得多元化带来规模经济、范围经济、交易费用节省,同时避免风险。但是对于像我国这样市场体制不健全的新兴国家这一结论是否依然成立?这正是本文研究的目的及意义所在。本文的主要内容:第一章是绪论,阐述了本文的研究目的和研究意义、研究的方法和手段,简要地说明了本文地研究框架。第二章是关于国内外多元化经营绩效实证研究文献的综述。在国外研究方面,我们在考察相关文献的基础上将测度多元化程度对经济绩效影响的研究分为三个学派:产业经济学派、战略管理学派和财务管理学派。我们对三者在多元化测度方面进行了优略的评价。在国内文献方面,我们将国内学者的观点分为两类:认为多元化程度与经济绩效不相关的和应该适度多元化。最后本章对目前国内外多元化程度与绩效关系研究进行了评述。更多还原

【Abstract】 The research of relationship between diversification and enterprise’s performance is the mainly topic of the strategic management, industrial economy and finance management. Abroad mainstream of opinion believe that diversification strategic which is well-transplanted core ability of enterprises can progress enterprise performance. However, this conclusion’s research objects are developed countries, rather than they have perfect market system in order to support the diversification. In the developing country, for example, China, has an unhealthy market system, Could this conclusion still be right? This is the aim and purpose of the paper.There are 5 chapters in this thesis:Chapter 1: Briefly elaborates the research purpose and research method.Chapter 2: Review on relevant researches. We take a retrospective look at relevant researches both in home and abroad. There are different schools of thoughts and comments them including the industry Organization School, strategic Management School and finance Management School. But Chinese scholars’ideas separate two differences, some scholars believe that diversification is not relative to economic performance; the others believe that diversification should be appropriately relative to economic performance.Chapter 3: elaborates diversification theory and gives its concept. Diversification and strategic theory is a kind of the companion livings the relationship, so this explain how important is the diversification. In the end of this chapter, we inquiry plus or minus function of the diversification conduct.Chapter 4: talks about the relationship between diversification and更多还原