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| 不同成长机会下多元化与公司绩效的门槛效应 | |
| 引用本文： | 孙戈兵,连玉君,胡培.不同成长机会下多元化与公司绩效的门槛效应[J].预测,2012,31(4):69-74,68. |
| 作者姓名： | 孙戈兵 连玉君 胡培 |
| 作者单位： | 1. 西南交通大学经济管理学院,四川成都610031;新疆大学经济管理学院,新疆乌鲁木齐830046 2. 中山大学岭南学院,广东广州,510275 3. 西南交通大学经济管理学院,四川成都,610031 |
| 基金项目： | 国家自然科学基金资助项目，教育部人文社会科学研究基金资助项目 |
| 摘 要： | 本文从企业非线性成长理论出发,在考虑公司成长机会差异的情况下,采用门槛面板模型对上市公司多元化与经营绩效间的非线性关系进行了研究。结果表明,多元化程度与经营绩效因成长机会的不同而呈现显著的区间效应,表现为当低成长机会时,多元化程度与经营绩效没有显著性关系,而高成长机会时,两者表现为显著性正相关或多元化折价消失,为"多元化折价悖论"提供了新的解释,并提出了一些建议。 |
| 关 键 词： | 成长机会 多元化 公司绩效 面板门槛模型 |
Threshold Effect between Diversification and Firm Performance under Different Growth Opportunities |
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| SUN Ge-bing , LIAN Yu-jun , HU Pei.Threshold Effect between Diversification and Firm Performance under Different Growth Opportunities[J].Forecasting,2012,31(4):69-74,68. | |
| Authors: | SUN Ge-bing LIAN Yu-jun HU Pei |
| Institution: | 1(1.School of Economics and Management,Southwest Jiaotong University,Chengdu 610031,China;2.Lingnan College,Sun Yat-Sen University,Guangzhou 510275,China;3.School of Economics and Management,Xinjiang University,Wulumuqi 830046,China) |
| Abstract: | Using panel threshold model by Hansen development from perspective of nonlinear growth theory,this paper empirically tests the effect of diversification on corporate performance with different growth opportunities.The results show significant regime effects between diversification and firm performance because of different growth opportunities.Diversification and performance are not significantly related for low growth firm and positively related or discounts disappear for high growth ones,this accounts for paradox of diversification discounts and proposes some policy suggestion. |
| Keywords: | growth opportunities diversification performance panel threshold model |
| 本文献已被 CNKI 万方数据 等数据库收录！ | |