Research On The Relationship Between Enterprise Diversification And Enterprise Performance Based On Industrial Coupling Theory

The development of manufacturing industry has played a decisive role in the rise of China's economy,among which the automobile industry plays a central role.Up to 2017,China's automobile production and sales have been ranked first in the world for 10 consecutive years,but the "big but not strong" development of automobile manufacturing industry has always been the bottleneck for China to become a powerful country in automobile industry.With the advance of"integration of the two industries",automobile manufacturing industry has realized the transformation and upgrading of informatization and intelligence relying on the electronic information industry.In addition,the automobile manufacturing industry itself is a highly integrated industry,including metallurgy,chemical industry and other industrial sectors.Therefore,the automobile manufacturing industry is not only closely integrated with the electronic information industry,but also permeated and integrated with various industries of traditional industry and strategic emerging industry.Studying the coupling degree and coupling mechanism between automobile manufacturing industry and related industries can better promote the coupling development between automobile manufacturing industry and other industries.At the same time,diversification has become the strategic choice of enterprises.Scholars have conducted extensive and in-depth studies on the relationship between diversification and enterprise performance,but there is no unified conclusion.Starting from a new perspective,this paper introduces industrial coupling into it,that is,whether enterprises exert their diversified resource advantages through the coupling utility between industries,so as to influence enterprise performance.Based on this,under the theoretical framework of industrial coupling,the coupling development status of China's automobile manufacturing industry is explored from the macro and micro levels.At the macro level,the coupling development status between China's automobile manufacturing industry and the new information industry is analyzed by using the industry coupling measurement model.At the micro level,the paper explores the effect of coupling utility of automobile manufacturing industry on its enterprises.Based on the theory and practice of enterprise diversification and enterprise performance studied by current scholars,the paper uses panel data regression model to analyze the relationship between enterprise diversification,industry coupling and enterprise performance.1.From 2006 to 2017,the degree of coupling coordination between China's automobile manufacturing industry and the new-generation electronic information industry increased from 0.482 to 0.797,which experienced a transition from barely coordination to the primary coordination and then to the intermediate coordination.The coupling coordination speed was fast and the coupling level was low.2.The degree of coupling and coordination between the two industries shows a trend of gradual improvement,but it is still in the initial stage of coupling development.Research and development technology level,industrial infrastructure conditions,and coupling development funds are the keys to restricting the coupling development of the two industries.3.The implementation of diversified operations in automobile manufacturing enterprises can enhance the performance of enterprises.Under the influence of the industrial coupling environment,the opportunities for mutual integration of policies,talents and technologies brought about by industrial coupling make enterprises more willing to try to expand diversified businesses and stimulate diversification.The ability of enterprises to perceive the development of the industry,the company can judge the development trend of the industry and make adjustments in the allocation of enterprise resources,thereby improving the short-term performance of the enterprise.