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多元化问题一直以来都是国内外学术界和实业界争议的焦点之一。本文的目的是为了确定多元化战略是否是公司重要的金融决策。因此在本次研究中提出了一个假设,多元化经营的企业比单一经营的企业有更好的业绩。针对了这一个假设本文以2001年至2008年的2088个中国上市公司作为样本,选用资产收益率作为公司业绩的衡量指标,通过实证来衡量实施多元化战略对企业产生的影响如何。本文还是针对这些上市公司进行研究分析,发现我国的上市公司在实行多元化战略上,其程度越高,它与资产收益率之间的关系就呈负相关。
The issue of pluralism has always been one of the focal points of controversy between academia and industry at home and abroad. The purpose of this article is to determine whether a diversified strategy is an important financial decision for a company. Therefore, in this study, we put forward an assumption that diversified enterprises have better performance than single-owned enterprises. In response to this hypothesis, this paper takes 2088 Chinese listed companies from 2001 to 2008 as samples, and selects return on assets as a measure of firm performance to measure the impact of the implementation of diversification strategy on enterprises. This article is still for these listed companies to conduct research and analysis, found that China’s listed companies in the implementation of diversification strategy, the higher the degree of its relationship with the return on assets is negatively correlated.