制度因素是否影响公司多元化战略?——基于上市公司面板数据的实证研究  

Do Institutional factors affect Firms' Diversification Level? An Empirical Study Based on Panel Data of Chinese Listed Firms

作　　者：殷瑾[1] 周英超[1] 

机构地区：[1]电子科技大学经济与管理学院,四川成都610054

出　　处：《中国软科学》2010年第S2期371-380,共10页China Soft Science

基　　金：教育部人文社科基金资助项目(06JC630004);国家自然科学基金资助项目(70372032)

摘　　要：制度因素是影响公司选择多元化经营模式和经营绩效的重要因素。本文基于上市公司面板数据,实证研究了制度因素对公司多元化经营模式的影响机制。研究发现,第一,多元化最优程度在不同时期是有差异的;第二,我国民营产权控股公司的多元化程度高于国有产权控股公司;第三,制度环境对我国公司多元化程度有显著的影响。Institution was important factor which affected firm diversification and performance.Based on panel data of Chinese listed firms,we empirical approached how the Institutional Environment affected the business model of diversification strategy.We found that 1.the diversification optimal level wasn't the same in different periods;2.the diversification levels of Private Property Holding Companies were higher than the state - owned ones;3.Institutional environment in China had significant effect on the level of business diversification.

关 键 词：制度环境 多元化程度 产权结构 

分 类 号：F224[经济管理—国民经济] F276.6