Studies On Cross-industrial Transition Of The Listed Companies In China

Cross-industrial Transition is a most significant strategic conduct that listed companies take advantages of resources and adjust industrial strategic positions to obtain new economic growth point or to get rid of operating dilemma. By combining qualitive and quantitive analyses, static and dynamic analyses, positive and normative research, this paper gives an comparatively all-round analyses on the cross-industries transition of the listed companies, and reveals the basic law of the cross-industrial transition of the listed companies in China.Firstly, starting with the idea of cross-industry transition, this paper defines its concept, formulates its major characters, explains the impacts that industry developments have exerted on it, as well as the effects of the relevance between the businesses. According to theoretic analyses and case study, the paper describes the process of cross-industry transition qualitively and quantitively in the aspects of the way of transition, the level (degree) of transition, speed and the industrial relevance before and after the transition. The author classifies the cross-industrial transition, formulates the standards with which we can measure whether the enterprise transits. Then according to the classifications and standards, the author tells the transitional enterprise from the non-transitional enterprise, determines the industrial relevance before and after the transition, the speed of the transition, the way of the transition, studies the effects of different ways of transition, analyses the enterprises' performance changes in front of and behind the cross-industry transition, the competitive advantages and disadvantages between transitional enterprise and in-business enterprise, and provides enterprises with the method, in which they can be succeeded in the cross-industrial transit.Secondly, the paper analyzes the motivating mechanism of the listed companies' transition of cross-industries in our country. It is argued in this paper that the premise made the transition achieve its goal is that industrial effect is an important factor for the enterprises' performance. The analysis begins with the effects which industrial effect exerts on the enterprises' performance, reflects enterprises' performance by using the six indicators in both profitable and developing capacity, analyses listed companies' performance in different industries in our country according to factor analysis, (which) in order to find out the industry that has a higher level of enterprise' performance. By using parameter-variance analyses and non parameter-variance analyses, the author examines whether industrial effect has a significant influence on the listed companies performance and analyzes the common problem on the listed companies' transition of cross-industries as well as the choosing principle of transitional path. All of these supplies the theoretic basis on making corresponding policies when the industry is set free in the economic transition and new industry is staying at the beginning stage, as well as the growing way to the listed companies.