摘要
文章通过实证研究发现,上市公司多元化经营的程度与股权的性质有关,中央控股的上市公司非相关多元化程度显著低于地方控股和私人控股的上市公司,地方控股的上市公司非相关多元化程度与私人控股的上市公司无显著差异;上市公司多元化经营的类型与公司业绩有关,上市公司相关多元化经营的程度与公司业绩显著正相关,上市公司非相关多元化经营的程度与公司业绩显著负相关。
Through empirical study,this paper finds out that the degree of diversified operations of listed companies is related to the nature of the equity.The degree of non-related diversification of the listed companies held by central government is significantly lower than that of the local or private holding companies,while the degree of non-related diversification of local holding companies has no significant difference with that of private holding companies.It is also found that the types of diversified operation of listed companies are related to corporate performance;the degree of related diversification of listed companies has a positive correlation with corporate performance,while the degree of non-related diversification of listed companies has a negative correlation with corporate performance.
出处
《当代财经》
CSSCI
北大核心
2011年第1期121-128,共8页
Contemporary Finance and Economics
基金
国家社会科学基金项目"定向增发
资产收购与利益输送问题研究"(09BJY017)
关键词
股东性质
多元化类型
公司业绩
nature of shareholders
diverse types
corporate performance