摘要
以我国上市公司2001-2006年经验数据为样本的研究表明,我国上市公司多元化经营整体上降低了公司的业绩,其原因在于多元化经营实现的协同效应不能弥补因代理冲突而产生的成本。
Taking the empirical data of China＇s listed companies during 2001-2006 as the sample, this paper discovers that the diversified operation in general has deteriorated the company performance. The reason is that the synergy effects by corporate diversification can not cover the cost of agent conflict.
出处
《河北经贸大学学报》
北大核心
2009年第4期52-58,共7页
Journal of Hebei University of Economics and Business
基金
教育部新世纪优秀人才支持计划(编号:NCET-08-0919)的研究成果
关键词
多元化经营
公司业绩
协同效应
代理成本
corporate diversification
company performance
synergy effects
agent cost
