企业多元化经营的动机及风险分析

专业化战略和多元化战略到底哪一种好,是人们争论的热点问题.本文通过分析企业选择多元化战略的动机、实施多元化经营中存在的风险,阐明了企业实施多元化经营战略的利与弊端,对今后企业选择经营战略具有借鉴意义.     

我国企业多元化经营的动机及负面效应分析

多元化经营可以通过充分利用企业内部优势和分散经营风险来提高企业的价值。具体来说,多元化经营具有范围经济效应、内部优势效应、分散风险效应以及税收和财务效应等方面的正面效应。这些正面效应虽然能给企业带来一定的利益,但是业务的过度扩张也会带来相应的负面影响,这更应引起我们的重视。     

企业经营多元化利弊探析

企业多元化战略是许多大中型企业的一种战略选择，也是国内外理论界和企业界争议最多的战略选择。近年来，随着资产重组的浪潮，我国许多大中型企业，尤其是东南沿海地区的企业热衷于多元化的经营战略。这些企业 产品组合的长度、宽度都在增加，企业规模迅速扩大，甚至有的企业把“多元化经营”、“低成本扩张”视为竞争与发展的法宝与捷径。但是我们不难看到，其中大部分企业都走上了弯路，有的甚至深陷困境或惨遭失败。因此，多元化经营对企业发展的利弊值得探讨。     

企业多元化经营战略及其选择

随着市场竞争的日趋激烈，企业的生产、经营风险逐步加大，如何尽可能多地化解企业经营风险，增强其综合生存发展能力，就必须分散风险，把鸡蛋不要放在一个篮子里，就应充分重视多元化经营的战略选择。     

论我国企业多元化经营的优缺点及实现

在当今微利化的市场环境下,从中国企业的管理能力来看,应当在不断适应外部环境和培育核心竞争力的基础上,实现低度的相关多元化,把企业多元化战略作为企业发展的一种手段,通过多元化来进一步提升企业核心竞争能力和扩展企业的战咯资源.     

企业多元化经营战略的再认识

多元化经营在大型企业的成长中占据重要的地位,是企业扩大经营规模、增强竞争力、规避风险的重要途径之一。在探讨了多元化经营战略认识区的基础上,提出多元化经营战略的选择技巧。     

我国企业多元化经营战略的模式选择

多元化经营又称多样化经营，是企业为了获得最大的经济效益和长期稳定经营，开发有发展潜力的产品，或通过吸收、合并其他行业的企业，以充实系列产品结构，或者丰富产品组合结构的一种经营模式，企业多元化经营战略是由著名的产品-市场战略大师安索夫（H.IgorAnsoff）于50年代提出的，它是企业发展到一定阶段，为寻求长远发展而采取的一种成长或扩张行为，现在，发达市场经济国家多数企业特别是大型跨国企业几乎都采用了这种经营战略。80年代初以来，我国企业也开始向多元化经营的方向发展，但是与发达的市场经济国家的企业相比，我国企业多元化经营战略的实施尚处于低级水平，其中更不乏失败者。     

企业多元化经营中的风险及其规避

一、多元化经营及其风险 多元化经营(Diversieation Strategy),亦称多样化经营,或多角化经营,是由美国著名经济学家海洛·安索夫于50年代提出的,发端于美国和日本的大企业,并在60～80年代经历了其发展的高潮阶段.     

多元化经营成败皆有因

国内外许多企业在规模扩张时期跨行业、跨领域经营,结果导致了多元化经营的失败,成为人们引以为鉴的教训。多元化作为经营战略和方式而言,其本身并无优劣之分。企业运用这种战略,成败的关键在于企业所处外部环境及所具备的内部条件是否符合多元化经营的要求。一、多元化经营失利的原因1.缺乏明确的多元化经营战略目标。战略目标包括加速企业成长、充分利用现有资源和优势、加强核心竞争力和调整产业结构等内容。战略目标不仅决定了投资行业的选择,而且指导企业在较长时期内的经营和投资方针。战略目标缺乏,企业在多变的市场环境中很容易迷失…     

商务英语专业多元化人才培养模式探索

自获教育部批准设立以来,商务英语专业迅猛发展。近年来,很多高校积极探索商务英语专业的人才培养模式。因此,拟探索把商务英语专业学生培养成既具有娴熟的英语语言技能,又有相关商务专业知识的,同时兼备职业素养的多元化人才,并且体现知识传授、能力培养和素质提高三者协调发展的教育理念。     

The relationship between business diversification and productivity: considering the impact of process innovation at different corporate life cycles

This paper investigates the link between a firm's process innovation (PI) and its segment productivity at different life cycles. The results show that business diversification is negatively associated with a firm's productivity, and further reveal that a firm's PI moderates the above relationship. In addition, the corporate life cycle literature builds blocks for this study to explain that the involvement of administrative costs varies across life cycles when diversified firms get mature and bigger. Our empirical evidence indicates that the potential costs of a complex organisational structure contingent on business diversification at a firm's mature life cycle could be alleviated by the conduct of process innovation. As process innovation at different life cycles may alter managerial incentive that leads to different firm performance, the managerial implication is that diversified firms should appropriately engage in process innovation to prevent unfavourable liability from the development of their businesses.     

基于创新型企业的风险投资发展对策探析

二十世纪90年代以来,以高新技术产业为主导的知识经济浪潮席卷全球,推动了风险投资的发展;技术创新作为企业创新的重要内容,是国内企业迎接全球经济一体化,提高核心竞争力的必然选择。笔者在回顾国内外风险投资理论研究成果的基础上,基于我国经济社会发展现状,就若干风险投资研究的前沿领域,从公司治理、价值评估、运作与退出机制、宏观环境等方面,讨论了风险投资的发展对策。     

An assessment of crop diversification in Bangladesh: a spatial analysis

The main aim of this article is to assess the crop diversification in different districts of Bangladesh. As there are some variations in topology and rainfall across regions, crop diversification index is computed for 23 old districts. The trend in diversification between 1980/81 and 2002/03 is analysed to see changing pattern over the years. Spatial analysis is also made to examine variations in diversification across regions, using time series data on acreage under different crops.     

创业投资对创业板上市企业经营绩效的影响研究

创业投资对创业板上市公司经营绩效的影响关系到创投行业和创业板的发展,选取每股净收益、净资产收益率、总资产收益率和销售利润率四个指标,比较有创投支持和无创投支持企业的经营绩效是否存在显著差别,研究结果表明：创业投资对创业板上市公司的经营绩效具有正向的促进作用。     

The determinants of firms’ global diversification decisions

Why do some firms choose to be ‘born global’ and become early internationalizing firms (EIFs) while others choose to be ‘born-again global’ and develop into late internationalizing firms (LIFs)? What are the main factors impacting a firm’s decision on the timing of global diversification? Based on the theories of diversification, this study examines the role of peer influence and desire for growth on the timing of a firm’s globalization decision. We further study the idiosyncratic risk and the adoption of technological innovation hypotheses on global diversification. Our results document that innovation efficiency strongly enhances EIFs’ propensity to global diversification. On the other hand, peer pressure and idiosyncratic risk level significantly influence EIFs not to globalize. In contrast, LIFs are positively influenced by their industry peers, showing how young and mature companies respond to the market competition in a different manner.     

Green technological diversification of European ICT firms: a patent-based analysis

ABSTRACT

This paper investigates whether and how diversified firms in the Information and Communication Technology (ICT) sector innovate in green technologies and assess the potential impact of these innovations on firm performance. The analysis relies on a balanced panel dataset of European ICT firms in the period 2009–2013. The results suggest an inverted u-shaped relationship between the extent of technological diversification and the likelihood to develop green technologies. Technological diversification generally increases the likelihood of green innovations, but too high a dispersion of resources across a large variety of different technologies decreases the intensity of green innovations. The results show also that the development of green technologies is positively associated with firm performance: ICT firms involved in green patenting activity perform better than ICT firms with no green patents.     

Tax policy, venture capital, and entrepreneurship

The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk project each but have no own resources. Financiers provide funds, covering investment cost plus an upfront payment, in exchange for a share in the firm. The contract must include incentives to enlist full effort of entrepreneurs. Venture capitalists also assist with valuable business advice to enhance survival chances. The paper develops a general equilibrium framework with a traditional and an entrepreneurial sector and investigates the effects of taxes on the equilibrium level of managerial advice, entrepreneurship and welfare. It considers differential wage and capital income taxes, a comprehensive income tax, progressive taxation as well as investment and output subsidies to the entrepreneurial sector.     

我国企业“投机”多元化发展解疑

我国企业多元化战略呈现了大量了“投机”性战略选择，而这种战略的设计与我国特殊的社会与经济双重转型密切相关，因而，我国企业的多元化战略呈现出以寻求“投机”为倾向、以追逐产业利润暴涨为目标的多元化战略发展。针对于此，我国企业在后转型期的多元化战略发展过程中应该更加结合企业自身素质与核心能力的培育。