發(fā)布時間：2018-04-18 02:05

  本文選題：旅游上市公司 + 超越對數(shù)成本函數(shù)　； 參考：《江南大學(xué)》2013年碩士論文

【摘要】：旅游業(yè)作為第三產(chǎn)業(yè)的重點，對于區(qū)域經(jīng)濟(jì)的發(fā)展及就業(yè)的改善具有十分重要的作用。但是，在當(dāng)前行業(yè)快速發(fā)展的形勢下，部分旅游上市公司卻存在經(jīng)營狀況不佳的情況。成本效率包含技術(shù)效率及配置效率，從投入產(chǎn)出的角度反映企業(yè)經(jīng)營狀況，是衡量企業(yè)競爭力的有效工具。要實現(xiàn)旅游業(yè)的可持續(xù)發(fā)展，必須提升旅游企業(yè)的成本效率。 由于旅游業(yè)自身具有綜合性和整體性特點，同時又容易受季節(jié)因素及各類不確定因素的影響，因此，旅游上市公司多通過實施多元化戰(zhàn)略來提升自身競爭力及規(guī)避風(fēng)險。旅游上市公司選擇的多元化戰(zhàn)略類型及程度的不同，，對成本效率的影響也不同。因此，測算旅游上市公司的成本效率，探究不同多元化戰(zhàn)略及程度對成本效率的影響，對旅游上市公司選擇合適的多元化道路具有十分重要的意義。 本文以2005年之前上市的旅游企業(yè)作為研究對象，采用基于超越對數(shù)成本函數(shù)的隨機(jī)前沿方法，考察不同多元化戰(zhàn)略類型及程度對成本效率的影響。文章首先是對多元化及成本效率的相關(guān)理論及文獻(xiàn)進(jìn)行回顧。通過對多元化折溢價效應(yīng)的理論分析發(fā)現(xiàn)多元化無好壞之分，取決于多元化帶來的投入增加與產(chǎn)出增加之間的比較。對于實施不同多元化戰(zhàn)略類型及程度企業(yè)來說，其成本效率存在差別。其次，文章對旅游上市公司多元化的現(xiàn)狀進(jìn)行分析。旅游上市公司多元化經(jīng)營范圍較廣且變動頻繁，房地產(chǎn)取代高科技成為新的亮點。企業(yè)多元化程度年度波動頻繁但差異不顯著，而個體差異顯著，并從戰(zhàn)略角度對旅游上市公司進(jìn)行了分類。此外，研究發(fā)現(xiàn)，旅游上市公司實施相關(guān)多元化戰(zhàn)略主要出于追求協(xié)同效應(yīng)的動機(jī)，而實施非相關(guān)多元化戰(zhàn)略主要出于風(fēng)險分散的動機(jī)。再次，文章結(jié)合理論分析及旅游上市公司多元化的現(xiàn)狀提出了假設(shè)，選取人力資本、固定資產(chǎn)及經(jīng)營支出作為企業(yè)投入，選取主營業(yè)務(wù)收入作為企業(yè)產(chǎn)出，構(gòu)建了成本效率的測算模型；選擇多元化熵指數(shù)DT及其他控制變量構(gòu)建了多元化對成本效率的影響模型。實證結(jié)果表明：對于實施不同多元化戰(zhàn)略類型旅游上市公司來說，方差分析結(jié)果P值小于0.05，說明三組數(shù)據(jù)存在顯著差別，且實施相關(guān)多元化戰(zhàn)略企業(yè)的成本效率均值要優(yōu)于非相關(guān)多元化和低度多元化企業(yè)。對于實施相關(guān)多元化戰(zhàn)略企業(yè)來說，其多元化程度對企業(yè)成本效率影響為正；而對于實施非相關(guān)多元化戰(zhàn)略企業(yè)來說，其多元化程度對成本效率影響為負(fù)。最后，結(jié)合多元化經(jīng)營成本效率的其它影響因素，對旅游企業(yè)多元化戰(zhàn)略的選擇及實施的注意點提出若干建議。
[Abstract]:As the focus of the tertiary industry, tourism plays an important role in the development of regional economy and the improvement of employment.However, in the current situation of rapid development of the industry, some tourism listed companies have poor operating conditions.Cost efficiency, which includes technical efficiency and allocation efficiency, is an effective tool to measure the competitiveness of enterprises.In order to realize the sustainable development of tourism, the cost efficiency of tourism enterprises must be improved.Since tourism has its own comprehensive and holistic characteristics, but also vulnerable to seasonal factors and various uncertain factors, tourism listed companies through the implementation of diversification strategy to enhance their competitiveness and avoid risks.Different types and degrees of diversification strategies of tourism listed companies have different effects on cost efficiency.Therefore, it is of great significance to estimate the cost efficiency of tourism listed companies and to explore the impact of different diversification strategies and degrees on cost efficiency, which is of great significance for tourism listed companies to choose the right way of diversification.Based on the stochastic frontier method based on the logarithmic cost function, this paper investigates the effects of different types and degrees of diversification strategies on the cost efficiency of tourism enterprises listed before 2005.Firstly, this paper reviews the theory and literature of diversification and cost efficiency.Through the theoretical analysis of diversification discount premium effect, it is found that diversification is not good or bad, but depends on the comparison between the increase of input and the increase of output brought by diversification.For enterprises with different diversification strategies and degrees, there are differences in cost efficiency.Secondly, the article analyzes the status quo of tourism listed companies diversification.Tourism listed companies diversification range and frequent changes, real estate to replace high-tech as a new bright spot.The diversification degree of enterprises fluctuates frequently, but the differences are not significant, but the individual differences are significant, and the tourism listed companies are classified from the strategic point of view.In addition, the study found that tourism listed companies to implement related diversification strategy mainly out of the pursuit of synergy, while the implementation of non-related diversification strategy mainly out of the motivation of risk diversification.Thirdly, combined with the theoretical analysis and the current situation of tourism listed companies, the paper puts forward the hypothesis, selects human capital, fixed assets and operating expenditure as enterprise input, and selects the main business income as enterprise output.The cost efficiency model is constructed, and the diversification entropy index DT and other control variables are selected to construct the model of the influence of diversification on cost efficiency.The empirical results show that: for tourism listed companies with different diversification strategies, the ANOVA results are less than 0.05, which indicates that there are significant differences among the three groups of data.And the average cost efficiency of implementing related diversification strategy is better than that of non-related diversification and low diversification.The degree of diversification has a positive effect on the cost efficiency of the enterprises in implementing the related diversification strategy, while the diversification degree has a negative impact on the cost efficiency for the implementation of the non-related diversification strategy.Finally, combined with other factors affecting the cost efficiency of diversification, some suggestions on the selection and implementation of diversification strategy for tourism enterprises are put forward.
【學(xué)位授予單位】：江南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F592.6

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