摘要
多角化经营是否提高了企业的负债水平和偿债能力 ,增加了股东的财富和价值 ?文章运用计量分析方法 ,通过对符合条件的 44家深沪上市集团公司的研究发现 :非相关多角化经营程度越高 ,负债水平越高 ,但偿债能力越低 ,多角化程度高的企业呈现出明显的被动负债特征。
Does diversification improve corporation liability and financial solvency and increase the wealth of shareholder? In this article we have a study of 44 group companies listed in Shanghai and Shenzhen stock markets which are up to the requirements and we find: the higher unrelated-diversification is, the higher corporation liability is. And the companies with low financial solvency and high diversification have the obvious characteristics of passive liability.
出处
《预测》
CSSCI
2002年第1期59-65,共7页
Forecasting
基金
上海市教育发展基金
上海市教委"曙光计划"资助项目 (98SG2 6 )
