企业集团成长模式与上市国有企业多元化行为研究

鉴于我国企业集团历史背景的特殊性,主要以企业资源依存理论为基础,以集团公司为研究核心,选取2007～2009年在沪、深上市的国有企业以及国有企业集团作为研究样本,运用二项回归与多元回归分析等多种方法,对我国企业集团的集团公司成长模式与上市国有企业的多元化行为进行了理论与实证分析。研究结果表明,企业集团是我国国有企业的一种快速成长模式,其成长与企业多元化行为高度正相关;国家资源调配的政策导向对国有企业集团的战略导向和组织结构设计有重要影响,但企业集团的产品多元化程度与企业绩效不相关。

Growth of State-owned Business Group and Firm Diversification in China

A business group is a set of firms which are linked together by common ownership and other informal ties.As one type of the new organizations after Chinese economical reforms,business groups have caught great attention among the scholars.Based on institutional theory,resource-based theory,resource dependence theory and agency theory,using a data set compiled largely from listed firms in Shanghai Securities Exchange and Shenzhen Securities Exchange,we analyze the effects of business group growth on diversification and firm profitability.The research results show that hypotheses are supported by the data.