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本文选取了我国沪深两市1999年之前上市、至2003年未退市的建筑与房地产业中实施归核化经营的27家A股上市公司作为研究样本,以改进的Jacquemin-Berry熵值测量法度量企业的归核化程度,并采用两种非参数检验的方法对样本企业归核化前后的收益能力进行了检验分析和相关性考察。得出的基本结论是,我国建筑与房地产业中的多业务企业,在实施归核化经营后,其收益能力获得了显著的提升,归核化经营之后的企业收益能力显著优于归核化之前的收益能力,并且企业收益能力的提升幅度与其归核化程度之间呈现出显著的正相关关系。
This paper selects 27 A-share listed companies which are listed in Shanghai and Shenzhen stock markets before listing in 1999 and not refunded in 2003 and refinish their operations in the real estate industry. Taking the Jacquemin-Berry entropy measurement as an example, Law measures the extent of the reorganization of enterprises, and uses two non-parametric tests to test the profitability of the sample enterprises before and after the re-verification. The basic conclusion drawn is that the multi-service enterprises in the construction and real estate industry in our country have significantly improved their profitability after the operation of refocusing operation, and the profitability of enterprises after the refraction operation is significantly better than that of the refocusing operation Previous earnings ability, and there is a significant positive correlation between the improvement of corporate earnings ability and the degree of its refocusing.