中国上市公司多元化行业特征的实证研究  

An Empirical Study on Industry Characteristics of Diversification Strategy for Listed Companies in China

作　　者：刘素[1] 薛有志[2] 纪鑫[2] 

机构地区：[1]山东经济学院工商管理学院 [2]南开大学公司治理中心

出　　处：《管理学报》2010年第10期1542-1547,共6页Chinese Journal of Management

基　　金：国家自然科学基金资助项目(70772050);教育部人文社会科学重点研究基地重大研究课题资助项目(06JJD63000)

摘　　要：使用统计分析方法检验了不同行业门类和制造业次类上市公司多元化水平和对多元化类型的偏好,以及行业因素对公司多元化差异的解释力度。研究发现,不同行业门类和制造业次类上市公司多元化水平存在显著差异,并且这种差异在行业间普遍存在。上市公司对多元化类型的偏好在不同行业内呈现出趋同和趋异的现象,随着时间变化不同行业多元化都是基本稳定的。大约有5%的多元化水平的差异可以由所处行业来解释。This article examines the listed company＇s level of diversification and the type of diversification preferences in different lines of business and manufacturing sub-categories as well as the industry factors on the diversification efforts using statistical analysis.The study have found out that as for different lines of business and manufacturing sub-category of listed companies there are significant differences in the level of diversification and the differences are prevalent between industries.Listed company on the types of diversification preferences in different industries exhibits convergence or divergence.Diversification varies stably in different sectors as time goes by.About 5 percent of the differences of diversification can be explained by the industry.

关 键 词：行业特征 多元化水平 多元化类型 

分 类 号：C93[经济管理—管理学]