Research On The Correlation Of Coal Enterprise Diversification And Operating Performance In China

Starting in 2016,in 3 to 5 years,through the safe green way and related energy optimization policies,the output will be reduced to 5 million tons.As an important way to promote the transformation of enterprises,the development and dynamics of diversification are often discussed and studied by many scholars,experts and managers,and it is also the focus and key point of this study and discussion.After reading and summarizing the domestic and foreign scholars' research literature and relevant enterprise practical experience,based on the unique characteristics of the coal industry in China and the comprehensive research and management status of the diversified enterprises in China,the following four hypotheses are put forward:The diversification of coal enterprises is positively related to the operating performance.Diversification is positively related to coal based diversification and business performance.There is a negative correlation between non coal diversification and management performance.State owned property is superior to private nature,and the performance of coal enterprises is diversified.Selected the typical cases of diversified operation of coal enterprises such as the most powerful company China Shenhua Energy Company Limited,large comprehensive enterprises China Coal Energy Company Limited,in coal energy,the early jumping out of the traditional development path of the coal industry,and Shanghai U9 Game Co.,Ltd.of resource exhaustion is analyzed.In the empirical test,we design the research model and define the research variables,select the diversification management index(H,DT),multivariate correlation index(DR,DU)and performance indicators(RCA,TQ,EVA rate)of 30 coal listed companies in China,and use SPSS software to carry out correlation and regression analysis to verify the research hypothesis.The results show that the diversification can make the industrial chain extend and integrate resources such as talent,technology and market platform,so that the value of coal enterprises can be promoted,and the diversification is positively related to the performance of the business.The advantages of diversification and diversification of coal based industries are highlighted,which is positively related to business performance.The synergistic effect of non coal diversified industries is low and negatively related to business performance.There is a low level of redundant construction in the coal enterprises with different property rights,so there is no significant difference in the performance of diversification.For coal enterprises,we should take advantages and avoid weaknesses in the diversified operation,pay attention to the trade-off between the allocation of resources and the diversification of coal and non coal.The state-owned coal enterprises should combine the policy and the market to adjust the diversified strategic layout,the private coal enterprises should avoid blind obedience and make the diversified operation improve the operating performance.