上市公司多元化战略与财务指标的关系研究——来自上证180指数的经验证据  

Study on the Relationship Between the Listed Corporation's Diversification Strategy and Financial Indicators——Evidence from Shanghai 180 Index

作　　者：杨永杰[1] 刘冲[1] 

机构地区：[1]甘肃政法学院经济管理学院,甘肃兰州730070

出　　处：《兰州文理学院学报（社会科学版）》2015年第4期49-58,共10页Journal of Lanzhou University of Arts and Science(Social Science Edition)

摘　　要：多元化战略是企业为了扩大经营规模和增加利润而经常选择的战略模式。以上证180指数成分股上市公司为样本,对这些上市公司的偿债能力、发展能力、盈利能力、股东获利能力等相关财务指标进行了描述性统计,并分别与多元化战略的代表性指数——赫芬达指数进行了回归分析,结果表明公司多元化战略和公司的偿债能力、发展能力之间没有显著地相关性,而公司的盈利能力和多元化战略之间存在负的相关性。所以我国上市公司不能盲目进行多元化,否则会影响企业的正常发展。Diversification strategy is choosen by enterprises for expanding business sale and raising profit. SSE 180 index constituent stocks of our listed Corporation is taken as samples,and the relevant financial indicators of these listing corpo- ration＇s solvency, profitability, development capacity, profitability and other shareholders are statistically analyzed. Re- gression analysis is used to study Hector Fanta index which is the representative index of diversification strategy. The re- suits show that there is no significant relation between diversification strategy and enterprises＇ debt ration and develop ment. The profitability of the corporation has inverse relation with diversification strategy. Therefore the listed company can＇t use diversification strategy blindly, or it will affect the normal development of the enterprise.

关 键 词：上市公司 多元化战略 回归分析 

分 类 号：F275.5[经济管理—企业管理]