乳品企业成长模式选择对绩效影响的实证分析

发布时间：2018-04-06 00:38

本文选题：乳品企业　切入点：成长模式　出处：《华中农业大学》2015年硕士论文

【摘要】：我国乳业起步虽晚,但发展迅速,目前已成为世界第三大产奶国。乳业的发展不仅能够解决就业压力促进国民经济的发展,还能带动畜牧业、饲料业等相关产业的发展。随着产业快速发展,市场上乳品的供给由短缺逐渐实现平衡,原料奶的供给甚至出现过剩,乳品从“高端消费品”降阶为“大众消费品”。近年来受国内乳品安全丑闻的影响,消费者信任危机冲击着国内乳品企业,外资品牌开始大肆抢占国内市场,加之国内乳品生产成本不断升高,部分乳品企业面临破产、重组和被兼并的困境。外资产品的进入及进口冲击导致乳品市场竞争的深度和广度进一步增加,乳品企业面临着严重的市场压力和生存压力,在这种复杂且竞争激烈的市场环境中,只有不断成长以提高绩效,企业才能获得持续的竞争优势,因此,探究乳品企业成长模式对公司绩效的影响是有重要的现实意义。企业要成长首先得制定出它的成长方向,成长方向依据的是企业高层管理者对公司战略的制定与选择。有了成长方向就有了企业奋斗目标,随后企业需要的就是资本的支持来达成目标,而资本的获取取决于企业融资方式的选择。因此,企业的生存和企业的成长依靠的是企业每次战略选择和融资方式的选择。本文构建的乳品企业成长模式分为战略选择和融资方式这两个维度。通过选取115家乳品企业做实证分析,建立多元线性回归模型和结构方程模型,利用SPSS和AMOS软件进行数据分析,将企业不同战略选择和融资方式所导致的绩效进行对比分析,以此来发掘这些不同的战略选择和融资方式对乳品企业绩效的影响及作用路径。通过实证研究,得出以下结论:战略选择不同,乳品企业取得的绩效不同,采用纵向战略的乳品企业所取的绩效最好,横向战略次之,多元化战略最差;融资方式选择不同,乳品企业获得的绩效也不一样,采用外部融资方式的企业绩效要高于采用内部融资企业的绩效;不同战略选择与融资方式组合成的不同企业成长模式对乳品企业绩效产生的影响也不相同,乳品企业最优的成长模式是企业采用纵向战略和外部融资方式的组合;从乳品企业融资方式与战略选择对公司绩效影响的路径分析来看,企业特点、战略选择和融资方式对乳品企业绩效产生正向直接影响,战略选择与融资方式之间也互相存在正向直接影响,融资方式和战略选择也可以通过相互作用从而对乳品企业的绩效产生间接的影响。
[Abstract]:Although China's dairy industry started late, it has developed rapidly and has become the third largest milk producing country in the world.The development of dairy industry can not only solve the employment pressure to promote the development of national economy, but also promote the development of animal husbandry, feed industry and other related industries.With the rapid development of industry, the supply of dairy products in the market is gradually balanced by shortage, the supply of raw milk even appears surplus, dairy products are reduced from "high-end consumer goods" to "consumer goods of the public".In recent years, under the influence of domestic dairy safety scandals, the crisis of consumer trust has hit domestic dairy enterprises, foreign brands have begun to seize the domestic market, and domestic dairy production costs are constantly rising, and some dairy enterprises are facing bankruptcy.The dilemma of restructuring and being annexed.The entry and import impact of foreign capital products lead to a further increase in the depth and breadth of competition in the dairy market. Dairy enterprises are facing serious market pressure and survival pressure. In this complex and competitive market environment,Only through continuous growth to improve performance, enterprises can obtain a sustained competitive advantage. Therefore, it is of great practical significance to explore the impact of dairy enterprise growth model on corporate performance.In order to grow, an enterprise must first work out its growth direction, which is based on the formulation and selection of corporate strategy by senior managers.With the direction of growth, there is a goal of enterprise struggle, and then the enterprise needs the support of capital to achieve the goal, and the acquisition of capital depends on the choice of financing mode.Therefore, the survival and growth of enterprises depend on the choice of each strategy and financing mode.The growth model of dairy enterprises is divided into two dimensions: strategic choice and financing mode.Through selecting 115 dairy enterprises for empirical analysis, establishing multiple linear regression model and structural equation model, using SPSS and AMOS software to carry on the data analysis, comparing and analyzing the performance caused by different strategic choice and financing way of the enterprise.In order to explore the impact of these different strategic choices and financing methods on the performance of dairy enterprises and the role of the path.Through the empirical research, we draw the following conclusions: different strategic choice, different performance of dairy enterprises, the longitudinal strategy of dairy enterprises take the best performance, horizontal strategy is the second, diversification strategy is the worst, financing methods are different.The performance of dairy enterprises is also different. The performance of enterprises using external financing is higher than that of enterprises using internal financing.Different growth models of different strategies and financing methods have different effects on the performance of dairy enterprises. The optimal growth model of dairy enterprises is the combination of vertical strategy and external financing.From the path analysis of the influence of financing mode and strategic choice on the performance of dairy enterprises, the characteristics, strategic choice and financing mode of dairy enterprises have a direct and positive impact on the performance of dairy enterprises.There is also a positive direct impact between the strategic choice and the financing mode, and the financing mode and the strategic choice can also have an indirect impact on the performance of dairy enterprises through the interaction.
【学位授予单位】：华中农业大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F426.82

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