导　　师： 夏新平

学科专业： L02

授予学位： 硕士

作　　者： ;

机构地区： 华中科技大学

摘　　要： 随着我国市场经济的不断发展，企业为了扩大规模，获得更大的竞争优势，很多企业选择了多元化经营策略。多元化经营无论是在理论界还是实践领域一直以来就有广泛的争议，它具有发挥企业剩余资源、分散企业经营风险、加速企业资本扩张等优点，而众多因实施了错误的多元化战略而倒闭的企业使人们越来越关注多元化的风险。多元化战略和企业经营业绩关系也成为国内外专家学者研究探讨的课题。
　　 本文以S集团公司（以下简称S公司）为例，采用案例分析的方法，结合定性分析、定量分析对多元化经营模式下S公司的经营业绩进行分析评价。首先本文介绍了研究的目的和意义、国内外相关研究结论以及多元化基础理论。然后对S公司的基本情况、多元化动机以及多元化过程进行了阐述。接着根据S公司公开的财务数据，从盈利能力、成长能力、偿债能力、营运能力四个方面对其进行财务比率分析。分析方法采用比较分析法，为了使结论更加可靠，本文一是对S公司历史数据进行分析，二是选取主要竞争对手进行横向比较分析，通过以上分析对S公司的经营情况和财务状况进行分析评价，最后指出公司多元化经营中存在的问题。
　　 本文的最后从宏观环境、行业环境等方面分析研究了S公司主业的行业现状以及未来的发展趋势，从宏观环境及行业状况来看，国家宏观经济政策以及行业整体走势继续对自动化和电工仪器仪表行业保持有利态势，作为高新技术密集并开始规模化的电力产业必然会受到政府政策层面更多的倾斜和支持。紧接着本文对S公司的竞争优势和劣势进行经营政策定位分析。最后，在以上研究分析的基础上对S公司的多元化经营政策提出改进建议，希望本文的研究结论对S公司的发展具有借鉴意义和决策参考价值。 With our country’s market-economics continuously developing, enterprises must and have to choose the diversified operation strategy to enlarge their scale and gain more competitive advantage. Diversified operation strategy has been disputed extensively in the domain of theory and practice, respectively. The advantage is to take use of the value of surplus resource, disperse the enterprise’s operation risk and speed up the capital expansion, while the disadvantage of diversified operation strategy may lead to the bankruptcy of the enterprise. Those fallen enterprise and their failure bring about people’s interesting and attention. The relationship between diversified operation strategy and operation performance is becoming the remarkable issue discussed and studied by the foreign and domestic scholars. Our work of this dissertation mainly bases on the S corporation. We adopt the method of case study and take use of the qualitative and quantitative analysis-tool to evaluate the performance of S corp. engaged in the diversified operation strategy. Firstly, we introduce the purpose and significance of our study, the correlated study and the basic theory. And then illustrate the basic situation, the motive for diversified operation strategy and the progress of diversified operation strategy. Secondly, according to the free financial data of S corp., we analyst its financial rate at four aspects, viz. profit capacity, evolution capacity, liquidity capacity and operation capacity. Our analytic method is the comparative analytic method. We do following two things to improve credibility of our conclusions. One is to analyst the historical data of S Corporation. On the other hand, we make the horizontal comparative analysis with the main competitive rival. Though these analyses above, we evaluate the operation and financial situation, and then point out the existed problem of S corporation engaged in diversified operation strategy. Finally, we study the S corporation’s industry state quo and the future trend with regards to the macro-environment and industry environment. At views of the macro-environment and industry situation, our national macro-economics policy and the main direct of the whole industry still benefit the automation industry and the electric-instructions industry. The electrical industry is one of high-tech intensive and scale-expanded industry. The government decision will extend to these areas special preferential policies and measures. And then we analyst the operation policy and position its position, according to the competitive merit and demerit of S corporation. Finally, we propose some valuable advice to S corporation about the diversified operation strategy based on the analysis above. Ultimately, we hope our study is beneficial to the operation decision and development of S corporation.

关 键 词： 集团公司 经营业绩 多元化经营 偿债能力 财务比率 宏观经济政策

分 类 号： [F272.3 F270.3]

领　　域： [经济管理] [经济管理] [经济管理] [经济管理]