机构投资者持股、多元化经营与公司业绩研究-金融学专业论文.docxVIP

元化经营绩效的“折价”作用。最后，针对研究结论，对我国多元化经营 元化经营绩效的“折价”作用。最后，针对研究结论，对我国多元化经营 的公司提出了回归主业，培育核心能力，选择适合自己的产业进行多元化 经营，并提出大力发展机构投资者和加强对它们的教育和监管等的建议。 关键字：多元化经营公司业绩机构投资者 万方数据 INSTITUTIONAL INSTITUTIONAL INVESTORS，DIVERSIFICATION AND CORPOTATE PERFoRMANCE RESEARCH ABSTRACT ¨Whether diversification can improve the performance of the company?¨ This issue has been the academic and industrial circles paid attention．Although the current has not yet formed a consistent conclusion，but more and more research found that diversification will cause the performance of the company’S discount，the enterprises of western countries gradually from diversification to return to specialization．Whether diversification in our country can improve firm performance or does some damage to value?Based on the domestic and foreign research，explores the relationship between diversification and corporate performance，and has carried on the simple analysis．The diversification strategy as an important area of corporate governance．In recent years，with the rapid expansion of the number and size of China’S institutional investors，institutional investors holding as an important factor in corporate governance in the enterprise of the position is becoming more and more impo rtant．Therefore，this paper mainly studies the impact of diversification on the performance of the company,and the moderating effect of institutional investors on this influence． This paper based on the 20 1 2—20 1 4 listed in Shanghai and Shenzhen two A III 万方数据 shares shares of listing Corporation as research sample．First，we study the relationship between diversification and performance of the company’S．Secondly,based on the study of the relationship between diversification and corporate performance， the adding of institutional investors holding will affect performance of diversification．Then，come to the conclusion：China’S corporate diversification and corporate performance is a significant negative correlation，namely the diversification will bring eff