業(yè)務集中度及其與企業(yè)價值的相關性研究.pdf

1、北京工商大學碩士學位論文業(yè)務集中度及其與企業(yè)價值的相關性研究姓名：田衛(wèi)葉申請學位級別：碩士專業(yè)：會計學指導教師：王峰娟20070601AbstractThespecializationanddiversificationstrategywhichstrategycancreatemuchvalueThisissuehascausedwidepublicconcernBasedonthewesternresearchandthepract

2、iceinChina，Iintroducetheconception“businessintensity’’anddevelopempiricalapproachtostudythesituationofbusinessintensityandthecorrelationofbusinessintensityandfinnvalueinChina’ssecuritiesmarketandtrytofindthereasonsthatca

3、nexplainitproperlyInthefirstpartofthispaperIdefinethebusinessintensityandtherelatedtheoriesof“businessintensityandthecorrelationofbusinessintensityandfirmvalue”arereviewedBasedonthesetheories，Iintroducethetheoriesofcorea

4、ctivities、thetheoriesofcorecompetenceMeanwhile，IanalyzeandcheckrelatedpapersThen，takingstockmarketdataintheyear2005onasample，thesituationofbusinessintensityanditseffectsonmarketvalueandfinancialvaluearetestedIemploystati

5、sticsortheprinciplesofstatisticsandgetsomeconclusionsbelowFirstlythelistedcompanieshavehighlybusinessintensityexceptthecompaniesintheindustryofFinancialsandConglomerates，also，companiesindifferentindustrieshavedifferentbu

6、sinessintensityThecompaniesinAgriculture、Wholesale&Retail、SocialServiceshavelowerbusinessintensityWhileinMining、ITandRealestate，thecompanieshavehigherbusinessintensitySecondlywefindthatthecompanieswhohavehigherbusinessin

7、tensitywillhavehigherTobin’q、ROE、coreROAThirdlyIintroducetheleastsquarestotestitmoredeeplyandfindthatthebusinessintensityhaveapositivecorrelationtofmnvalueandthelargerofthefirmscalethelowerofthefinnvalueinlistedcompanies

8、ofChinaFurthermore，Iintroducethesteadytest，andgetasimilarconclusionAtlast，thispaperpointedoutthedeficiencyandreasonandexpectedthestudyofbusinessintensityandfirmvalueKeywords：businessintensitycorebusiness，corecompetence，f