企业多元化经营与公司绩效的相关性研究毕业论文.docVIP

毕业论文 （20_ _届） 企业多元化经营与公司绩效的相关性研究 摘 要 多元化经营是企业进行发展和扩张的一种重要经营战略。在企业竞争日益激烈的今天，研究多元化对公司绩效的影响显得尤为重要。本文首先介绍了多元化经营的基础理论，包括多元化的含义、分类、衡量方法以及现状。在文献综述的基础上提出研究假设，设立衡量企业多元化程度和公司绩效的指标，以专业化率（SR）、熵指数EDI）、赫芬达尔指数（HDI）衡量企业多元化，以净资产收益率（ROE）、每股收益（EPS）和TobinQ衡量公司绩效，本文以2006—2009年的50家制造业上市公司为样本，运用描述性统计分析、回归分析的方法对中国上市公司多元化经营程度与公司绩效的关系进行实证研究，结果表明，中国上市公司专业化经营的公司绩效优于多元化经营的公司绩效；低度多元化经营的公司绩效优于高度多元化经营的公司绩效；制造业上市公司的多元化经营实际上损害了公司绩效，最后论文在此基础上对我国企业多元化经营提出了回归主营业务、增强核心竞争力，选择合适的时机、合适的产业进行多元化的建议。 关键词：Abstract Diversification is an important development and expansion of business strategy to enterprise. Today the business enterprise competition is fierce ,study the impact of diversification on corporate performance is particularly important. This paper first introduce the theory of the diversification, including the definition, class, the measurement of the diversification and the academic interpret about the diversification strategy. Then lists out assumptions based on the literature review of previous research, defines the measurements of corporate diversification and performance, use Specialization Rate(SR), Herfindahl Index(HDI), Entropy Diversified Index(EDI) to measure the diversification of the corporate. Besides,we will use Return of Equity(ROE), Earning of Per Share(EPS) and TobinQ to measure business performance, uses company’s financial data to complete linear regression analysis, this paper chooses 50 listed companies in A stock market in 2006-2009 year, through the analysis of descriptive statistic, compare the relation of different class enterprises and performance to china’s companies,the research indicated that the enterprises which have single business have the better performance than that of diversification, the performance of low-degree diversification is better than that of high-degree diversification, In the last, this paper puts forward some policy suggestions. For example, companies should regress from diversification to specialization and enhancement core competitive ability. At t