哈慈多元化道路失败原因探讨

多元化经营是企业进行规模扩张,实现企业成长的重要路径,但一些企业却因为实施多元化战略而失败。用实证分析的方法,对哈慈集团实施多元化战略失败的原因进行了分析,以期为拟实施多元化战略的企业实现可持续发展提供有益的借鉴。     

企业实施多元化战略失败原因的实证分析

业的多元化经营是企业进行规模扩张的重要手段,但一些企业因为实施多元化战略而败走麦城,本文用实证分析的方法,对我国企业实施多元化战略失败的原因进行了分析,以期为拟实施此战略的企业实现可持续发展提供有益的借鉴。     

企业实施多元化战略失败原因的实证分析

业的多元化经营是企业进行规模扩张的重要手段，但一些企业因为实施多元化战略而败走麦城，本文用实证分析的方法，对我国企业实施多元化战略失败的原因进行了分析，以期为拟实施此战略的企业实现可持续发展提供有益的借鉴。     

以核心能力为基础的企业多元化战略实施

本文首先阐述了企业多元化战略实施的意义,其次,分析了企业多元化战略实施离不开核心竞争能力的原因。同时,从人才战略的支持;强化战略管理;做好主营业务是多元化经营的起点和基础等方面就如何做好以核心能力为基础的企业多元化战略进行了深入的探讨,具有一定的参考价值。     

多元化战略是馅饼 还是陷阱——论海尔的非相关多元化战略

本文以海尔的多元化经营战略为例,介绍了其多元化的进程,分析了其在非相关多元化过程中出现失误的原因,并且对海尔今后的多元化发展提出了若干建议。实施多元化战略必须要以企业自身的核心竞争力为基础,以增强核心竞争力为目的,适度的多元化才是主流。     

多元化战略是馅饼还是馅阱——论海尔的非相关多元化战略

本文以海尔的多元化经营战略为例,介绍了其多元化的进程,分析了其在非相关多元化过程中出现失误的原因,并且对海尔今后的多元化发展提出了若干建议。实施多元化战略必须要以企业自身的核心竞争力为基础,以增强核心竞争力为目的,适度的多元化才是主流。     

乐视网的多元化战略研究 ——从财务风险的角度

随着经济的高速发展,单一的产品业务已经不能满足顾客的多样化需求。因此,许多企业实施多元化战略,以实现经济效益的增加。成功实施多元化战略的企业为数不多,多元化的引入反而加大了企业的财务风险,以乐视网为例,多元化引起资金链的断裂,企业面临退市危机。通过Z-score模型的建立,发现乐视网的经营风险和偿债风险较高,并分析了相关原因,据此对企业运用多元化战略给出了合理化的建议。     

浅析大型煤炭企业实施非相关多元化战略的利与弊

目前,大型煤炭企业经过改革开放几十年的发展,逐渐组和壮大成为大型集团公司,大部分的集团公司采用的发展战略主要是相关多元化战略.但是公司要想进一步发展,就必须实施非相关多元化战略.这样的战略选择是这些企业的发展趋势.本文从实施非相关多元化战略的原因、战略的优点、弊端以及应注意的措施四个方面分析大型煤炭企业发展的趋势.     

对企业多元化经营的探讨

所谓多元化经营,就是指企业在经营时,尽可能地扩大产品种类,生产出大量的、多种多样的产品,或者跨行业的接收与拓展业务,扩大企业的生产规模以及生产经营范围和市场范围。当企业发展到一定程度时,为了获得更多的盈利以及再度扩大企业的规模,便会采用多元化经营战略来帮助企业继续发展。目前来说,多元化战略在大部分企业中都有被采纳与运用,但在实施工作中,部分企业对多元化战略的核心工作不明确,以及对其实质的了解不透彻,导致了其实施效果的不明显。本文主要分析了企业实施多元化战略的原因,并对企业过分追求多元化经营的风险作简要讲述。     

基于雨润与双汇集团的对比浅析多元化战略

本文通过比较雨润与双汇实施的多元化战略,分析实施多元化战略的动机、策略及运行效果,总结得出企业实施多元化战略应重点考虑的事项:提高企业的核心竞争力是发展多元化战略的首要条件;依据自身的资源与能力选择多元化战略类型是关键;提高公司内部管理是多元化战略得以顺利实施的保障。     

从一般管理到母合优势——多元化经营的管理逻辑演变

本文从支持多元化发展的管理逻辑演变角度对20世纪50年代以来的多元化经营实践进行了理论综述。从广泛多元化到均衡多元化到相关多元化再到有限多元化,多元化经营经历了不同的发展阶段,各个阶段的发展重点和支持理论存在一定变化:从注重通用性的一般管理技能向强调专有性的母合管理优势演变。这种逻辑演变呈现出一种螺旋式的发展轨迹。     

Does the sequencing of related and unrelated export diversification matter? Evidence from Colombian exporters

How does related or unrelated geographic diversification affect future related or unrelated product diversification of exporting firms, and vice-versa? This question addresses an unresolved debate, and it is important for firms in developing countries that seek to expand their product and geographical markets. Our study contributes to a current debate by highlighting the relevance of the temporal sequence and the relatedness of international diversification. Expanding the classic transaction costs and the resource-based explanations, we argue that organizational learning as well as organizational and sales (in-)efficiencies (notably through resource and product cannibalization, negative transfer and coordination costs) affect the interrelationships between product and geographic diversification. Using a panel dataset of over 14,000 firm-year observations from exporters based in Colombia, we find that (1) related geographic diversification tends to increase future product diversification; (2) related product diversification tends to decrease future geographic diversification; and (3) unrelated product diversification tends to increase future geographic diversification.     

企业国际多元化：一个文献综述

从资源配置的角度看,企业战略包括两个基本方面：行业多元化和国际多元化。与行业多元化相比,对国际多元化的关注较少。理论分析表明,国际多元化既有成本,也有收益。通过总结国外关于国际多元化的最新研究发现,目前关于国际多元化与企业绩效关系的实证研究结论并不一致,这些经验研究主要是基于发达国家企业的样本,并且这些研究本身也存在许多问题。利用新兴市场经济国家的样本可能会得出不同的结论。     

Diversification patterns and survival as firms mature

We focus on the relationship between age and diversification patterns of German machine tool manufacturers in the post-war era. We distinguish between ‘minor diversification’ (adding a new product variation within a familiar submarket) and ‘major diversification’ (expanding the product portfolio into new submarkets). Our analysis reveals four main insights. First, we observe that firms have lower diversification rates as they grow older, and that eventually diversification rates even turn negative for old firms on average (where negative diversification corresponds to exit from certain product lines). Second, we find that product portfolios of larger firms tend to be more diversified. Third, with respect to consecutive diversification activities, quantile autoregression plots show that firms experiencing diversification in one period are unlikely to repeat this behavior in the following year. Fourth, survival estimations reveal that diversification activities reduce the risk of exit in general and to a varying degree at different ages. These results are interpreted using Penrosean growth theory.     

The impact of domestic diversification and top management teams on the international diversification of Chinese firms

Despite increasing research on outward foreign direct investment (OFDI) by firms from emerging economies, our understanding of the relationship between domestic operations and international diversification of these firms is still limited. Using a unique dataset of Chinese listed firms, we examine the impact of domestic diversification on their international diversification. We find that international diversification is positively affected by firms’ domestic industrial and domestic regional diversification. We also find that top management team (TMT)’s previous international experience strengthens the impact of domestic diversification on firms’ international diversification, whereas TMT's prior political connections weakens the impact of domestic diversification on international diversification.     

Two Sides of a Coin: Endogenous and Exogenous Effects of Corporate Diversification on Firm Value

We investigate the value effects of two types of corporate diversification – unexpected exogenous diversification and endogenous diversification. Combining Heckman's sample‐selection estimator with a two‐stage least squares estimator and a generalized method of moments instrumental variables estimator to control for both endogeneity and sample‐selection bias, we find that while an unexpected increase in diversification caused by exogenous shocks destroys firm value, an endogenous increase in diversification due to managerial decisions will enhance firm value, indicating a diversification premium from altering organizational structures.     

Efficiency of multinational banks: Impacts of geographic and product loci

This paper explores geographic diversification strategies’ impact on multinational banks’ operational performance within the context of research on globalization and regionalization. We employ a sample of the 49 largest banks from 16 European countries from 2011 to 2018 and proxy operational performance by technical efficiency. We find the impact of geographic diversification on operational performance depends on the locus of geographic diversification—home-regional vs. inter-regional—and the interplay between geographic diversification and banks’ functional focus. More specifically, home-regional diversification together with a concentration on non-interest income-generating activities, including fee and commission and trading income, worsens performance, and diversification across regions alongside a focus on non-interest income-generating activities improves performance. Distinct product characteristics’ ability to facilitate different regional dispersions has important managerial implications for enhancing the success of geographic diversification strategies, a central but unresolved issue in global banking.     

The effect of product diversification strategies on the relationship between international diversification and firm performance

Previous studies have provided mixed evidence on the interaction effect of product and international diversification on firm performance. This study extends this stream of research by investigating the differential impacts of product diversification strategies on the relationship between international diversification and firm performance. We find that while related product diversification positively influences the performance of multinational firms, unrelated product diversification negatively moderates the international diversification–performance relationship. The evidence is robust for different models of international diversification and firm performance, and holds for firms in both the service and manufacturing industries. Our findings highlight the importance of distinguishing different product diversification strategies, and provide a potential explanation for prior mixed evidence.     

Does diversification add firm value in emerging economies? Effect of corporate governance

Using 205 Taiwanese firms spanning five years, this research examines how corporate governance factors specific to emerging economies determine the extent of diversification and moderate its performance. The analyses reveal that controlling family ownership is significantly associated with a greater extent of diversification, which impairs firm value. Conversely, domestic bank ownership significantly decreases diversification, which in turn increases diversification performance. These findings present the evidence of controlling family entrenchment through diversification and the significant role domestic banks play in the principal–principal corporate governance framework.     

Effects of family control on the degree and type of diversification: Empirical evidence for business groups

This article analyzes the impact of ownership structure on corporate diversification, with reference to large listed family business groups. By considering agency theory and socioemotional wealth, the study examines the relationship between family ownership, concentration of ownership, and degree and type of diversification. The study considers 99 Spanish listed business groups (50 family‐controlled‐ and 49 nonfamily‐controlled groups) and considers diversification of business group as the focus of analysis. The results show how family business groups present a lower preference for unrelated diversification than related diversification. There is also a nonlinear relationship between the concentration of ownership in family groups and the degree of diversification, showing different behaviors in family groups according to shares owned by the family's leading shareholders. This article contributes to the literature by providing a more precise identification of the corporate strategy adopted by business groups and establishing new evidence about the impact of family control on diversification strategies and the differences regarding nonfamily business groups.