我国房地产企业多元化经营对企业绩效影响的实证研究

发布时间：2018-04-06 01:16

本文选题：多元化经营　切入点：房地产企业　出处：《中南大学》2013年硕士论文

【摘要】：摘要：房地产行业一直是我国最引人关注的行业,它不仅关系国计民生,涉及人们最基本的需求,而且它还是我国最重要的支柱产业和经济的直接命脉。但近几年政府不断加大对房地产的政策调控,使得房地产企业利润不断摊薄,风险持续加剧,越来越多的房企开始寻找新的出路。在行业与市场转变的双重背景下,不论是形势所迫,还是企业发展需求,多元化经营都成为房地产企业发展的一种重要战略选择。但多元化经营对于房地产企业的长远发展究竟是好是坏,一时间众说纷纭。因此,本文对房地产企业多元化经营与企业绩效的关系进行研究,分析我国房地产企业多元化经营现状,并对我国房地产企业到底适不适合进行多元化经营,而又应怎样进行多元化经营等问题进行探讨。本文首先回顾了国内外多元化与企业绩效的研究文献,介绍多元化与企业绩效评价的相关基础理论,对多元化经营可能给企业带来的正效应和负效应进行理论分析。再对我国房地产企业经营绩效现状和多元化经营现状进行分析,并从外部和内部两方面综合分析我国房地产企业多元化经营的动因。接着,本文对衡量企业多元化经营和企业绩效的指标进行分析和筛选,再用熵指法求得一个能够全面衡量企业绩效的综合性指标,并用该指标与多元化经营程度进行实证分析,得到如下结论：我国房地产上市公司多元化经营现象较为普遍,但多元化程度并不高,主要还是以房地产开发与经营业务为主；在一定范围内,房地产企业多元化经营程度越高,企业绩效越好；与非相关多元化经营相比,相关多元化经营更有利于改善企业绩效；总资产与企业绩效存在显著的正相关关系,即规模越大的企业,企业绩效越好。最后,本文在总结实证研究结果基础上对我国房地产企业提出以下建议：提升主导业务,培养核心竞争力；综合考虑企业内部条件及外部市场,选择恰当的时机；尽量选择与房地产相关的行业进行多元化经营,但多元化程度不宜过高。图5幅,表18个,参考文献70篇。
[Abstract]:Absrtact: the real estate industry has always been the most attractive industry in our country. It not only relates to the national economy and people's livelihood, but also involves the most basic needs of people, and it is also the direct lifeline of our country's most important pillar industry and economy.But in recent years, the government has been increasing the regulation of the real estate policy, which makes the real estate companies' profits constantly diluted, the risks continue to increase, and more and more housing enterprises begin to look for a new way out.Under the dual background of industry and market transformation, diversification has become an important strategic choice for the development of real estate enterprises, whether it is forced by the situation or the development needs of enterprises.But diversification for the long-term development of real estate enterprises is good or bad, for a time divergent views.Therefore, this paper studies the relationship between the diversification of real estate enterprises and enterprise performance, analyzes the current situation of diversification of real estate enterprises in China, and analyzes whether the real estate enterprises of our country are suitable for diversification.And how to carry on diversification and so on the question carries on the discussion.This paper first reviews the literature on diversification and enterprise performance at home and abroad, introduces the relevant basic theories of diversification and enterprise performance evaluation, and analyzes the positive and negative effects that diversification may bring to enterprises.Then the paper analyzes the present situation of the real estate enterprise's management performance and the present situation of the diversified management, and analyzes the motivation of the diversified management of the real estate enterprise in our country from the external and internal aspects.Then, this paper analyzes and selects the indicators to measure enterprise diversification and enterprise performance, then obtains a comprehensive index which can comprehensively measure enterprise performance by using entropy method, and makes an empirical analysis with this index and the degree of diversification.The conclusions are as follows: the phenomenon of diversification of listed real estate companies in our country is relatively common, but the degree of diversification is not high, mainly in the development and operation of real estate; within a certain range,The higher the degree of diversification of real estate enterprises, the better corporate performance; compared with non-related diversification, related diversification is more conducive to improve corporate performance; total assets and corporate performance has a significant positive correlation,That is, the larger the enterprise, the better the performance.Finally, on the basis of summarizing the empirical research results, this paper puts forward the following suggestions to the real estate enterprises in China: to enhance the leading business, to cultivate the core competitiveness, to consider the internal conditions and the external market comprehensively, and to choose the right time;Try to choose the real estate industry diversification, but the degree of diversification should not be too high.5 figures, 18 tables, 70 references.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.4

【共引文献】