政治关联是否影响行业和地域多元化战略的绩效产出?——来自中国民营部门的证据  

Does Political Connection Shape the Performance Output of the Industrial and Geographical Diversification Strategies?Evidence from China’s Private Section

作　　者：邓新明[1] 叶珍[1] DENG Xin-ming;YE Zhen(School of Economics and Management,Wuhan University,Wuhan 430072 ,China)

机构地区：[1]武汉大学经济与管理学院

出　　处：《云南财经大学学报》2019年第8期43-52,共10页Journal of Yunnan University of Finance and Economics

基　　金：国家自然科学基金项目“竞争者分析、红皇后效应与企业绩效:组织间竞争对抗及其动态演化的驱动机制研究”(71572132);国家自然科学基金项目“动态竞争条件下企业竞争互动及其与制度环境的协同演进与绩效影响研究:基于市场与非市场的综合视角”(71272232)

摘　　要：以2009—2016年沪深A股530家上市民营企业为样本,采用层次回归分析法探讨行业多元化、地域多元化和政治关联对企业绩效的影响。研究结果表明:中国民营企业的行业多元化对企业绩效存在显著负向影响;中国民营企业的地域多元化对企业绩效存在显著正向影响;民营企业政治关联对企业绩效有显著正向影响;政治关联对行业多元化与绩效的负向关系有减弱型调节作用;政治关联对地域多元化与企业绩效的正向关系有减弱型调节作用。By using 530 A-share listed private companies in Shenzhen and Shanghai stock exchanges from the year of 2009 to 2016 as samples, this paper analyzes and discusses the impact of industrial diversification, geographical diversification and political connection on corporate performance through hierarchical regression. The results show that the industrial diversification of China' s private enterprises has significant negative impact on enterprise performance;the geographical diversification of China' s private enterprises has significant positive influence on enter? prise performance;political connection weakens the negative linkages between industrial diversification and corporate performance as well as the positive relationships between geographical diversification and corporate performance.

关 键 词：行业多元化 地域多元化 政治关联 企业绩效 

分 类 号：F273[经济管理—企业管理]