走以核心竞争力为依托的相关多元化之路——中国企业多元化经营的

上海师范大学硕士学位论文走以核心竞争力为依托的相关多元化之路——中国企业多元化经营的绩效与风险的实证研究姓名：郑杰申请学位级别：硕士专业：产业经济学指导教师：李治国20040401TakethewayofrelateddiversificationbasedoncorecompetenceDemonstrationresearchonperformanceandriskofChineseenterprises’diversificationAbstractThedevelopmentstrategyofChineseenterprisesisalwaystheconcernoftheoristsandpracticerssincethereform&opening.DiversificationistheoppositeofRefocusing;diversificationmeansthere-arrange&re-locateofresourceinenterprisesDiversificationstrategyhasalottodowiththeotherstrategiesanditisthestrategywhichcanbringgreatchangetotheenterprises.Thepaper,inlightofexistedresearchresultsoftheacademia,exploresthescaleeconomyandrangeeconomyofenterprises;throughdemonstrationresearchandcriterionresearch,itexplainstherelationofChineseenterprisesdiversification,economicperformance&riskandproblemsanddisadvantageslyingindiversificationofChineseenterprises.Finally,itproposesstrategies&policeschoicesofChineseenterprisesdiversification.KeywordsDiversificationRefocusingScaleEconomyRangeEconomyEconomicPerformanceEconomicRiskNewlyborneMarketCoreCompetenceResourceEnvironment1234Gort,Michael,1962,‘DiversificationandIntegrationinAmericaIndustry’PrincetonUniversityPress,pp.8-9.5Chandler,A.D.,Jr.,1962,‘StrategyandStructure’,Cambridge,MTpress,pp.7-8.Rumelt,RichardP.,1974,‘Strategy,Structure,andEconomicPerformance’,Boston,HarvardUniversity,pp.9-11.20008367Rumelt,RichardP.,1974,‘Strategy,Structure,andEconomicPerformance’,Boston,HarvardUniversity,pp.2932.891997368-741011KimW.C.,P.HwangandW.P.Burgers,“Multinationals’DiversificationandtheRisk-ReturnTrade-off”,StrategicManagementJournal,Vol.14,275-286(1993)121319954p.296141997p.2571996p.515il19975541997566199759116axsplxxx=+=aysplyyy=+=pxpysxsy1=+yxllil0)1(,02221-==--axxpaxxplaadlxdaldldx0)1(,02221-==--ayypayyplaadlydaldldyxpdldxypdldyxpdldxypdldyilxlxxll2=ppaaxaaxaxpxxlllx222)2(====1998145-4917,0,0),,0()0,(),(212121+qqqCqCqqC1819sclMPsclMCsclsclsclMCMPMR-=sclMPsclMPsclMCsclMPsclMPsclMRsclMCsclMPsclMCsclMR20*QsclMPsclMCsclMR,0)(′QPMscl0)(′′QPMscl0′sclCM0′′sclCM0)(′′QPMsclscoMCscoMRscoMPscoMRscoMCscoMCscoMPscoMR21*Q*Q22*QsclMCsclMRsclMCsclMR232425262728293031321R)(4R2R)(5R)(3R3334357123436373839404119876842432000834419988083199880834546474849uAborts,Williamw.andSegall,JoelE.,1966,‘TheCorporateMerger’,London,UniversityofChicagoPress.uAmit,R.andLivnit,J.,1988,‘Diversificatonstrategies,businesscyclesandeconomicperformance’,StrategicManagementJournal,Vol.9pp.99~110.uAnsoff,H.I.,1968,“CorporateStrategy:ananalyticapproachtobusinesspolicyforgrowthandexpansion”,Harmond-sworth,Middlesex,PenguinBooks.uArgyres,N.,1996,‘Capabilities,technologicaldibersificationanddivisionalization’,StrategicManagementJournal,Vol.17,pp.395~410.uBainbridge,C.,1996,‘Theroleoftheprocesstemplateinorganizationalchange’,StrategicChange,Vol.5pp.107~115.uBalakrishnan,S.,1988,‘Theprognosticsofdiversifyingacpuisitions’,StrategicManagementJournal,Vol.,pp.185~196.uBane,W.T.andNeubauer,F-F.,1981,‘Diversificationandthefailureofnewforeignactivities’,StrategicManagementJournal,Vol.2,pp.219~223.uBaumol,W.J.,1982,‘ContestableMarkets:anuprisinginthetheoryofindustrystructure’,TheAmericanEconomicReview,Vol.72,No.1pp.1~15.uBertoletti,P.,Poletti.C.,1997,‘X-inefficiency,competitionandmarketinformation’,TheJournalofIndustrialEconomic,Vol.XLV,Dcecmber,NO.4.uBettis,R.A.,1981,‘Performancedifferencesinrelatedand50unrelateddiversifiedfirms’,StrategicManagementJournal,Vol.2,pp.379~393.uBorland,J.andYang,X.K.,1992,‘Specializationandanewapproachtoeconomicorganizationandgrowth’,TheAmericanEconomicReview,Vol.82,No.2,pp.386~391.uBorland,E.,1997,‘DeregulationandthePiedPiperapproachtodiversification’,StrategicChange,Vol.6,pp.63~72.uBusija,E.C.,O’Nell,H.M.andZeithaml,C.P.,1997,‘Researchnotesandcommunications:Diversification’,StrategicManagementJournal,Vol.18:4,pp.321~327.uCapon,N.andHulbert,J.M.et.,1988,‘Corporatediversityandeconomicperformance:theimpactofmarketspecialization’,StrategicManagementJournal,Vol.9,pp.61~74.uChandler,A.D.,Jr.,1962,‘StrategyandStructure’,(chaptersinthehistoryoftheindustrialenterprise)Cambridge,MITpress.uChandler,A.D.,1990,ScaleandScope:ThedynamicsofIndustrialCapitalism’,TheBelknapPressofHarvardUniversitypress.uChang,Y.andThomas,H.,1989,‘Theimpactofdiversificationstrategyonrisk-returnperformance’,StrategicManagementJournal,Vol.10,pp.271~284.uChang,S.J.,1996,‘Anevolutionaryperspectiveondiversificationandcorporaterestructuring-entry,exit,andeconomicperformanceduring1981-89’,StrategicManagementJournal,Vol.17,pp.587~611.uChannon,DerekF.,1974,‘ThestrategyandstructureofBritishenterprises’,London:MacmillanPr.Ltd..51uChristensen,H.K.andMontgomery,C.A.,1981,Corporsteeconomicsperformance:diversificationstrategyversusmarketstructure’,StrategicManagementJournal,Vol.2,pp.327~345.u2002u2002u1995527~28u[]F199810u[]19905u1998422~25u[]1988u[]19893u1996258~60u[]JCKSSE19982u[]1989uJ199741~4uLEDGR19954296u1997430~3252u1999161~64u1996236~39u1998469~73u1998648~49u1998648~49u2001959~62u2001436~40u19961172~77u1997368~74u19994u19992