Research On Diversification And Firm Performance Under Different Ownership

Combined with the relevant theoretical basis of ownership nature theory,enterprise performance and diversification theory,this paper makes bold assumptions and constructs a model on the relationship between ownership nature,diversification and enterprise performance,and finally completes the hypothesis test with the help of practical examples.This paper makes a specific analysis with the help of empirical inquiry method,deeply analyzes the relationship between enterprise performance and diversification degree in the two directions of region and business,takes ROA as a fixed performance index,evaluates the degree of diversification with the help of Herfindal index,and makes a corresponding analysis on the degree of regional diversification with the proportion of foreign sales amount,Through the above data,his paper makes a relevant exploration on the relationship between the performance of listed enterprises and the degree of diversification in their listed industry,and makes an in-depth discussion on the regulatory role of the nature of ownership.This paper comes to the following conclusions:(1)the curve state between enterprise performance and business diversification degree is inverted U-shaped.This phenomenon shows that in the diversification process of the whole listed enterprise,the best advantage is 42.48%,and when the diversification degree is controlled within 0-42.48%,the relationship between them is the best,that is,positive correlation.If the business diversification degree is greater than 42.48%,Negative correlation;(2)There is also a certain relationship between the degree of regional diversification and enterprise performance.If the degree of regional diversification is deepened,the enterprise performance will be reduced;When the enterprise performance increases,the degree of regional diversification decreases;(3)The relationship between firm performance and diversification will be positively regulated by the nature of ownership;(4)As for the relationship between regional diversification and enterprise performance,the data in this paper show that there is not much difference between state-owned enterprises and non-state-owned enterprises in this regard,so the nature of ownership has no obvious regulatory effect on it.This paper studies the nature of ownership,the relationship between diversification and enterprise performance,enriches the positive and negative effects of diversification in theory,designs the path of diversification to improve enterprise performance,and enriches the theoretical basis for the main business operation of stateowned enterprises.In practice,this paper explores the degree of interaction between diversification and performance of domestic enterprises,so as to make corresponding reference and basis for the diversification practice of domestic enterprises.