国际多元化与企业绩效:四阶段倒M型模型  

International diversification and enterprise performance:A four-stage inverted-M model

作　　者：李维瑶[1] 张莉君 吴冰[1] Li Weiyao;Zhang Lijun;Wu Bing(School of Business, East China University of Science and Technology, Shanghai 200237, Chin)

机构地区：[1]华东理工大学商学院,上海200237

出　　处：《科研管理》2018年第6期57-66,共10页Science Research Management

基　　金：国家自然科学基金青年项目"中国企业在发达国家创业的外来劣势研究:社会网络的视角"(项目编号:71202051;2013.1-2015.12);国家自然科学基金面上项目"学习能力;学习效果对新兴市场中小企业国际化水平影响研究"(项目编号:71072071;2011.1-2014.12);中央高校基本科研业务费交叉学科与重大培育基金"基于社会网络视角的中国企业海外投资风险管理研究"(项目编号:WN1221001;2012.10-2016.9)

摘　　要：随着国际多元化的发展,中国企业在海外遇到严峻挑战。但目前国内研究对企业国际多元化与绩效的关系还探讨不足。本文通过对2002-2014年制造业上市公司的面板数据进行分析,试图进一步探索中国企业国际多元化与绩效间的关系,并检验企业性质的影响。研究表明:中国企业国际多元化与绩效间存在四阶段倒M型关系;国有企业国际多元化的绩效显著优于民营企业。With the development of international diversification,China＇s firms encounter severe challenges abroad. However,the research on the relationship between international diversification and performance of China＇s firms has been underexplored.Using the 2002-2014 panel data of China＇s listed manufacturing firms,we explore the effects of international diversification on performance of China＇s firms,and examine the role of firm＇s ownership. The results show that there is an inverted-M relationship between international diversification and performance; the performance of state-owned enterprises is significantly better than that of private firms during the process of international diversification.

关 键 词：国际多元化 企业绩效 国有企业 民营企业 

分 类 号：F276.5[经济管理—企业管理]