農(nóng)業(yè)上市公司多元化經(jīng)營對公司成長性影響研究
本文選題:多元化經(jīng)營 + 成長性; 參考:《西北農(nóng)林科技大學(xué)》2014年碩士論文
【摘要】:農(nóng)業(yè)是國民經(jīng)濟的基礎(chǔ),對促進社會穩(wěn)定、經(jīng)濟發(fā)展具有不可或缺的作用。農(nóng)業(yè)上市公司是農(nóng)業(yè)先進生產(chǎn)力的代表,是引領(lǐng)農(nóng)業(yè)經(jīng)濟發(fā)展的重要力量,農(nóng)業(yè)上市公司的長遠穩(wěn)定發(fā)展對于促進農(nóng)民增產(chǎn)增收、推進農(nóng)業(yè)產(chǎn)業(yè)化經(jīng)營具有重要意義,因此,農(nóng)業(yè)上市公司承擔(dān)著企業(yè)責(zé)任和社會責(zé)任的雙重使命。但在現(xiàn)實中,卻由于農(nóng)業(yè)自身的弱質(zhì)性、資本的趨利性、企業(yè)價值最大化等原因,很多農(nóng)業(yè)上市公司的多元化程度愈漸加深,甚至出現(xiàn)“背農(nóng)”轉(zhuǎn)型,這些問題是否會威脅到農(nóng)業(yè)上市公司的長遠發(fā)展,繼而不利于農(nóng)業(yè)這一基礎(chǔ)產(chǎn)業(yè)的可持續(xù)發(fā)展,學(xué)術(shù)界尚未對這一問題進行深入研究。 本文以多元化經(jīng)營為切入點,以在滬深兩市上市的35家農(nóng)業(yè)上市公司為研究樣本,通過分析這35家上市公司2006至2012年的相關(guān)數(shù)據(jù),深入研究多元化是否會影響以及怎樣影響農(nóng)業(yè)上市公司的成長。本文主要包括以下五部分內(nèi)容。首先,引言部分,主要介紹本文的選題背景、研究目的和意義、國內(nèi)外研究綜述以及已有研究存在的不足之處,在此基礎(chǔ)上提出本文的研究思路,將運用到的研究方法,并在最后提出本文的可能創(chuàng)新之處;然后,分析多元化經(jīng)營影響企業(yè)成長性研究的理論基礎(chǔ),本部分在多元化經(jīng)營理論、成長性理論的基礎(chǔ)上,分析多元化經(jīng)營影響企業(yè)成長性的作用機理,包括:分散風(fēng)險、實現(xiàn)協(xié)同效應(yīng)、謀求新的經(jīng)濟增長點等;接著,分析我國農(nóng)業(yè)上市公司的發(fā)展現(xiàn)狀。本部分將首先分析農(nóng)業(yè)上市公司的弱質(zhì)性及其社會責(zé)任,接著分析公司的多元化現(xiàn)狀,最后從總營業(yè)收入增長率、主業(yè)收入增長率等十個方面對農(nóng)業(yè)上市公司的財務(wù)狀況進行描述性分析,為后文的實證分析打好基礎(chǔ);繼而,進入本文的實證分析部分,在提出研究假設(shè)、選擇樣本與數(shù)據(jù)來源、進行指標選擇和模型構(gòu)建的基礎(chǔ)上,根據(jù)主成份分析結(jié)果,初步了解農(nóng)業(yè)上市公司的成長性狀況,再通過面板數(shù)據(jù)隨機變截距模型,對多元化經(jīng)營對企業(yè)成長性的影響進行實證分析;最后,根據(jù)實證結(jié)果提出本文的結(jié)論及建議。 本文通過實證分析發(fā)現(xiàn)多元化經(jīng)營不僅不利于農(nóng)業(yè)這一主營業(yè)務(wù)的長遠發(fā)展,也阻礙了農(nóng)業(yè)上市公司整體的成長,管理層應(yīng)慎重對待多元化經(jīng)營戰(zhàn)略,,尋找正確途徑促進農(nóng)業(yè)上市公司成長,帶動農(nóng)業(yè)經(jīng)濟實現(xiàn)長遠發(fā)展。
[Abstract]:Agriculture is the foundation of national economy and plays an indispensable role in promoting social stability and economic development. Agricultural listed companies are representatives of advanced agricultural productive forces and an important force in leading the development of agricultural economy. The long-term and stable development of agricultural listed companies is of great significance for promoting farmers' increase in production and income and promoting the industrialization of agriculture. Agricultural listed companies bear the dual mission of corporate responsibility and social responsibility. However, in reality, due to the weakness of agriculture itself, the profit orientation of capital and the maximization of enterprise value, the diversification of many agricultural listed companies has deepened gradually, and even the transformation of "back agriculture" has taken place. Whether these problems will threaten the long-term development of agricultural listed companies, and then is not conducive to the sustainable development of agriculture as a basic industry, the academic community has not yet carried out in-depth research on this issue. This paper takes diversification as the starting point, takes 35 agricultural listed companies listed in Shanghai and Shenzhen stock markets as research samples, and analyzes the relevant data of 35 listed companies from 2006 to 2012. Further study whether diversification will affect and how to affect the growth of listed agricultural companies. This paper mainly includes the following five parts. First of all, the introduction part, mainly introduces the background, research purpose and significance of this paper, the domestic and foreign research review and the shortcomings of the existing research, on the basis of this, put forward the research ideas of this paper, the research methods that will be applied. Finally, the possible innovations of this paper are put forward. Then, the theoretical basis of the research on the influence of diversification on enterprise growth is analyzed, which is based on the theory of diversification and the theory of growth. This paper analyzes the mechanism of diversification affecting the growth of enterprises, including: dispersing risks, realizing synergistic effects, seeking for new economic growth points and so on; then, analyzing the development status of agricultural listed companies in China. This part will first analyze the weakness of agricultural listed companies and their social responsibility, and then analyze the current situation of diversification of companies, finally, from the total operating income growth rate, The financial situation of agricultural listed companies is analyzed in ten aspects, such as the growth rate of main industry income, which lays a good foundation for the empirical analysis in the following chapters. Then, in the empirical analysis part of this paper, the research hypotheses are put forward. On the basis of selecting samples and data sources, selecting indicators and constructing models, according to the results of principal component analysis, the growth status of agricultural listed companies is preliminarily understood, and then the random variable intercept model of panel data is adopted. This paper makes an empirical analysis on the influence of diversification on the growth of enterprises. Finally, the conclusions and suggestions of this paper are put forward according to the empirical results. Through empirical analysis, this paper finds that diversification is not only harmful to the long-term development of agriculture as a main business, but also hinders the growth of agricultural listed companies as a whole. To find the right way to promote the growth of listed agricultural companies and promote the agricultural economy to achieve long-term development.
【學(xué)位授予單位】:西北農(nóng)林科技大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2014
【分類號】:F324;F302.6;F272.3
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