摘要
基于战略环境变化视角,以R&D为切入点,研究专业化、相关多元化和非相关多元化等三种战略类型对企业绩效的影响机理。实证结果发现:专业化、相关多元化和非相关多元化三种战略中,非相关多元化战略的企业绩效最低;多元化扩张(多元化水平增加)后,非相关多元化战略的企业绩效依然最低。三种战略与R&D投资均存在匹配效应,但非相关多元化战略与R&D投资的匹配效应最低,多元化扩张(多元化水平增加)后,未发现多元化战略与R&D投资匹配效应增加的经验证据。这可为企业在结构调整中选择具体的多元化战略类型提供新思路。
Diversification is a strategic choice of enterprises to adjust structure. However, based on long-term perspective of both the enterprise practice and theory research, most paper focused on how diversification influenced firm performance and got mixed results. So how to choose and implement diversification strategy is still a question. Based on the strategic environmentperspective, this paper discusses the influence of three types of strategies on firm performance, which are specialization, related diversification and unrelated diversification. The empirical results show that specialization leads to the lowest firm performance among three strategies and these results remain if enterprises expand in diversification. Be-sides, there exists matching effect between any kind of these three strategies and R&D investment, but a minimum matching effect is found between unrelated diversification strategy and R&D investment. Matching effect doesn't exist if enterprises expand in diversification. Empirical evi-dence presented in this paper can provide a new train of thought for enterprises to choose diversification strategy type and for government to imple-ment industrial transformation and upgrading.
出处
《当代经济管理》
CSSCI
2016年第6期14-22,共9页
Contemporary Economic Management
基金
广东省自然科学基金博士启动项目《业务重构与企业绩效--基于R&D视角的实证研究》(2015A030310484)
广东省自然科学基金项目《重大资产重组的多重协同互补效应与重组绩效研究》(2015A030313074)阶段性研究成果
关键词
多元化战略类型
R&D
战略环境
匹配
types of diversification strategies
R&D
strategic environment
matching
