Diversification and Corporate Performance: Evidence from China's Listed Energy Companies
文献类型：期刊论文
| 作者 | Li, Qiming1; Wang, Wenhuan1; Lou, Yiping1; Cheng, Ke1; Yang, Xiaoguang1,2
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| 刊名 | SUSTAINABILITY
 |
| 出版日期 | 2016-10-01 |
| 卷号 | 8期号:10页码:17 |
| 关键词 | industrial diversification international diversification corporate performance sustainable development China |
| ISSN号 | 2071-1050 |
| DOI | 10.3390/su8100983 |
| 英文摘要 | Recently, China's energy industry has been continuously depressed due to a slowdown in its economic development. China's energy companies have made considerable efforts to promote their corporate performance to mitigate this performance decline and to ensure the sustainable development of China's energy industry, macro economy, society and environment. In this paper, the effects of two business strategies-industrial diversification and international diversification-on the performance of listed energy firms are empirically investigated. The empirical results show the following: (1) industrial diversification hinders corporate performance; (2) for industrially-diversified energy companies, related diversified strategies are more effective than unrelated diversified strategies; and (3) international diversification improves the performance of renewable energy firms, but hinders the performance of conventional energy firms. These results suggest that as economic conditions are not currently optimal, China's energy companies should pay more attention to their main businesses and generate more products to satisfy market demand. |
| 资助项目 | National Natural Science Fund projects[714310080] ; National Natural Science Fund projects[71532013] ; open fund of Key Laboratory of Petrochemical Resource Processing and Process Intensification Technology[2014K008] |
| WOS研究方向 | Environmental Sciences & Ecology |
| 语种 | 英语 |
| WOS记录号 | WOS:000389314600023 |
| 出版者 | MDPI AG |
| 源URL | [http://ir.amss.ac.cn/handle/2S8OKBNM/24444]  |
| 专题 | 系统科学研究所 |
| 通讯作者 | Yang, Xiaoguang |
| 作者单位 | 1.China Univ Petr, Sch Business Adm, 18 Fuxue Rd, Beijing 102249, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, 55 Zhongguancun East Rd, Beijing 100190, Peoples R China |
| 推荐引用方式 GB/T 7714 | Li, Qiming,Wang, Wenhuan,Lou, Yiping,et al. Diversification and Corporate Performance: Evidence from China's Listed Energy Companies[J]. SUSTAINABILITY,2016,8(10):17. |
| APA | Li, Qiming,Wang, Wenhuan,Lou, Yiping,Cheng, Ke,&Yang, Xiaoguang.(2016).Diversification and Corporate Performance: Evidence from China's Listed Energy Companies.SUSTAINABILITY,8(10),17. |
| MLA | Li, Qiming,et al."Diversification and Corporate Performance: Evidence from China's Listed Energy Companies".SUSTAINABILITY 8.10(2016):17. |
入库方式： OAI收割
来源：数学与系统科学研究院
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