基于“IO-TL”模型的公司多元化逻辑

The Logic of Corporate Diversification-based on the Model of "IO-TL"

本文从现有多元化争论现象出发,分析了公司多元化诱因,阐述了多元化影响因素,在此基础上构建公司多元化产生的"IO-TL"模型,随后从动态视角深入分析了多元化"IO-TL"模型,并推理出公司多元化逻辑:公司多元化行为由公司所面临的行业秩序和自身的技术水平状况共同决定,短期内,公司最优多元化程度是存在的、稳定的;从长期来看,公司最优多元化程度随公司所面临的行业秩序和自身的技术水平发展而不断变化。

From the corporate diversification controversy, this paper analyzes the incentive of corporate diversification, states the factors which influence the corporate diversification behavior. Based on these analysis, the paper puts forward the corporate diversifica- tion model of ＂IO-TL＂. Later, form the angle of view of development, this paper analyzes the model of ＂IO-TL＂ and obtains the logic of corporate diversification, the corporate diversification behavior is decided by two key factors, one is the industry order （IO）, which the corporation faces with, the other is the technology level （TL）, which the corporation owns. In the short term, the optimal corporate diversification degree is subsistent and stable, but from the long term, along with the change of industry order and technology level, the optimal corporate diversification degree is variational.