我国企业多元化经营与降低企业风险研究——来自我国上市公司的经验证据

多元化经营在我国企业中已经越来越普遍,多元化能够降低企业风险吗?通过对经营与财务两方面的研究发现,多元化战略会降低企业收益的波动幅度,分散企业的经营风险;但同时,多元化战略会增大企业发生财务失败的可能性,增加企业的财务风险。因此,企业多元化经营的成功与否依赖于风险管理的有效性。

Can Diversification Strategies Reduce the Firms" Risks in China

Diversification operation has become more and more popular with Chinese firms.But can such operation reduce their risks? Diversified strategy can lower the fluctuation of a firm's revenue,disperse its operational risks.But meanwhile,this strategy will augment the possibility of the firm's financial failing and increase its financial risks.Therefore,the success or failure of the strategy depends on effective empirical management.