本文關(guān)鍵詞：有色金屬行業(yè)上市公司縱向一體化對企業(yè)績效影響的研究　出處：《浙江大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 縱向一體化 投入產(chǎn)出表法 企業(yè)績效 結(jié)構(gòu)性檢驗

【摘要】：本文立足于有色金屬行業(yè)現(xiàn)實,從目前行業(yè)的實際情況出發(fā),探討企業(yè)縱向一體化對企業(yè)績效的影響。我國的有色金屬行業(yè)雖然在全球占有一定的地位。但是由于礦產(chǎn)資源相對匱乏,有色金屬行業(yè)內(nèi)企業(yè)不僅面臨同一個產(chǎn)業(yè)鏈環(huán)節(jié)上的競爭,還面臨來自上游礦產(chǎn)資源供應(yīng)商與制造商、制造商和下游產(chǎn)品分銷商兩個市場中的競爭。因此本文研究的問題具有現(xiàn)實意義。 本文首先從理論角度建立模型,探討企業(yè)在考慮縱向一體化戰(zhàn)略選擇時的影響因素,創(chuàng)新地考慮到企業(yè)所處地域和所有制變量對決策的影響,并選取總資產(chǎn)收益率為企業(yè)績效指標(biāo),運用投入產(chǎn)出表法測算縱向一體化指數(shù),并運用有色金屬行業(yè)上市公司2007-2011年面板數(shù)據(jù)進行了實證分析。研究結(jié)果表明,有色金屬行業(yè)公司的縱向一體化程度和企業(yè)績效存在二次非線性關(guān)系,但目前兩者的關(guān)系處于拋物線的右半段,呈負(fù)相關(guān)關(guān)系。產(chǎn)業(yè)集中度的提高和資本結(jié)構(gòu)的改善都有利于提高企業(yè)績效。特別地,產(chǎn)業(yè)集中度越高,縱向一體化程度對企業(yè)績效負(fù)效應(yīng)越弱。而且當(dāng)市場的產(chǎn)業(yè)集中度提高到一定水平時,縱向一體化程度反而能夠改善企業(yè)業(yè)績。本文還運用結(jié)構(gòu)性檢驗,驗證企業(yè)所處地域和所有制性質(zhì)兩個因素的引入是否引起模型的結(jié)構(gòu)性變化。結(jié)果表明不同地域和所有制性質(zhì)的企業(yè),縱向一體化對績效的影響不一樣。 在此基礎(chǔ)上,本文從企業(yè)決策和政府立法角度為現(xiàn)實中的有色金屬行業(yè)健康發(fā)展提供了一定的政策建議。
[Abstract]:This paper is based on the reality of nonferrous metal industry, starting from the current actual situation of the industry, to explore the influence of vertical integration on the performance of enterprises. China's nonferrous metals industry in the world although occupies a certain position. But due to lack of mineral resources, non-ferrous metal industry enterprises not only face the same industry chain competition. Face from supplier and manufacturer of mineral resources upstream manufacturers and downstream distributors, two in the market competition. So the problem of this study is of practical significance.
This paper first establishes the model from the theoretical point of view, to explore the influence factors of enterprise strategic choice when considering vertical integration, innovative enterprises are considering the influence of geographical and ownership variables to the decision, and chooses the rate of return on total assets for the enterprise performance indicators, using input-output table method to calculate the vertical integration index, and empirical analysis the use of nonferrous metal industry listed companies 2007-2011 panel data. The results show that there are two non-linear relations of nonferrous metal industry the degree of vertical integration and enterprise performance, but the relationship between the two in the right side of the parabola, there was a negative correlation between the degree of industrial concentration. And the increase of capital structure improvement is to improve the enterprise performance. In particular, industry concentration is high, the degree of vertical integration on enterprise performance more negative effect is weak. And when the market industry concentration increased To a certain level, the degree of vertical integration but can improve enterprise performance. This paper also used structural inspection, verification the structural changes introduced regional and ownership of two factors can cause the model. The results show that different regions and ownership of enterprises, influence of vertical integration on performance is not the same.
On this basis, this paper provides some policy suggestions for the healthy development of non-ferrous metal industry from the perspective of enterprise decision-making and government legislation.

【學(xué)位授予單位】：浙江大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F426.32;F832.51;F224

【引證文獻】

相關(guān)碩士學(xué)位論文 前1條

1 宋婧婧;企業(yè)縱向規(guī)模與成本優(yōu)勢的研究[D];西北大學(xué);2013年

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本文編號：1362144