多元化经营战略、核心竞争力框架与股权结构

我国上市公司有不少已落入了多元化经营战略"陷阱",表现为公司主营业务利润比重较低,导致公司价值的减少.只有通过收购兼并、管理权接管来实现上市公司降低多元化经营程度,才能提升公司的核心竞争力.但是,我国上市公司的股权结构不利于这种转变的实现.本文利用近几年上市公司的统计资料对这一问题进行了演绎推理与定量分析,得出了以下结论只有通过多种途径实现股权结构由国家绝对控股模式向法人相对控股模式转变,才能促进我国上市公司摆脱多元化经营"陷阱",提升公司的核心竞争力.

Diversification Strategy, Core Competence Framework and Ownership Structure

Some of Chinese listed companies have fallen into the trap ofdiversification strategy, that behave as the listed companies MOPR aredecreasing and cause the reduction in firm value. So the listed companiesmust decrease the diversification via M&A and management turnover, inorder to promote competence . But Chinese listed companies ownershipstructure deters the conversion. This paper makes use of the data of listedcompanies in recent years and proceeds deductive inference and quantitativeanalysis aiming at this problem. The result shows: Decreasing the ownershipconcentration can decrease the listed companies diversification.