作者：黄俊
关键字：政府干预；多元化经营；公司业绩
摘要/Abstract
本文利用中国上市公司数据，考察了政府干预对公司多元化经营的影响及其经济后果。研究发现，政府干预下的上市公司更易进行多元化经营，而且由于这种多元化行为的非经济性，政府干预所造成的上市公司的过度多元化经营损害了公司的业绩。本文的研究增进了对转轨经济时期我国政企关系的认识，对理解新兴市场公司的多元化行为也提供了新的视角。
Using the data of Chinese listed companies, we investigate the influence of government on the firm diversification and its economic consequence. We find that with the government intervention companies diversify more. Furthermore, because this action is not economical such diversification decreases firm performance. The research shows us the relationship between government and firm in the transaction time, and sheds light on the firm diversification in the emerging market.
全文阅读：https://www.sinoss.net/qikan/2011/0130/12142.html