农业上市公司多元化经营对公司成长性影响研究

发布时间：2018-05-23 17:35

本文选题：多元化经营 + 成长性　；参考：《西北农林科技大学》2014年硕士论文

【摘要】：农业是国民经济的基础，对促进社会稳定、经济发展具有不可或缺的作用。农业上市公司是农业先进生产力的代表，是引领农业经济发展的重要力量，农业上市公司的长远稳定发展对于促进农民增产增收、推进农业产业化经营具有重要意义，因此，农业上市公司承担着企业责任和社会责任的双重使命。但在现实中，却由于农业自身的弱质性、资本的趋利性、企业价值最大化等原因，很多农业上市公司的多元化程度愈渐加深，甚至出现“背农”转型，这些问题是否会威胁到农业上市公司的长远发展，继而不利于农业这一基础产业的可持续发展，学术界尚未对这一问题进行深入研究。本文以多元化经营为切入点，以在沪深两市上市的35家农业上市公司为研究样本，通过分析这35家上市公司2006至2012年的相关数据，深入研究多元化是否会影响以及怎样影响农业上市公司的成长。本文主要包括以下五部分内容。首先，引言部分，主要介绍本文的选题背景、研究目的和意义、国内外研究综述以及已有研究存在的不足之处，在此基础上提出本文的研究思路，将运用到的研究方法，并在最后提出本文的可能创新之处；然后，分析多元化经营影响企业成长性研究的理论基础，本部分在多元化经营理论、成长性理论的基础上，分析多元化经营影响企业成长性的作用机理，包括：分散风险、实现协同效应、谋求新的经济增长点等；接着，分析我国农业上市公司的发展现状。本部分将首先分析农业上市公司的弱质性及其社会责任，接着分析公司的多元化现状，最后从总营业收入增长率、主业收入增长率等十个方面对农业上市公司的财务状况进行描述性分析，为后文的实证分析打好基础；继而，进入本文的实证分析部分，在提出研究假设、选择样本与数据来源、进行指标选择和模型构建的基础上，根据主成份分析结果，初步了解农业上市公司的成长性状况，再通过面板数据随机变截距模型，对多元化经营对企业成长性的影响进行实证分析；最后，根据实证结果提出本文的结论及建议。本文通过实证分析发现多元化经营不仅不利于农业这一主营业务的长远发展，也阻碍了农业上市公司整体的成长，管理层应慎重对待多元化经营战略，，寻找正确途径促进农业上市公司成长，带动农业经济实现长远发展。
[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.
【学位授予单位】：西北农林科技大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F324;F302.6;F272.3

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