A Study About The Relationship Between The Resources Allocation Of Listed Companies And The Enterprises Performance Based On The Industry Environment

The study about the corporates environment originated in the1940s and1950s;many scholars paid attention to external environments, and there were twocontroversial views about the environment, which are environmental determinism andenvironmental management theory. The enterprises performance is determined by theirresources and the rational allocation of resources; and the external environments notonly affect the availability of resources, but also directly and indirectly influence therational allocation of resources, and thus have an impact on business performance.There is a complex relationship among the environments, resources allocation andperformance. To clarify the relationship between them, this article defines theenvironments in the industry environments level, and then tries to study the mechanismamong the resources allocation, the industry environments and performance. This canenrich the contents of resources and the environments research, and bring to thetheoretical and practical significance for the business practices.This article divides the industry environments into three dimensions, which aredynamic environment, competitive environment and complex environment, andcharacterizes the allocation of resources from five dimensions, which are financialresources allocation, human resources allocation, product-sales ratio, intangible assetconfiguration, and R&D resources allocation, then divides enterprises performanceinto financial performance and market performance. The main contents of this articleare divided into three aspects: firstly, to analyze the influence of the resourcesallocation and the industry environments on enterprises performance; secondly, to testthe moderating effects of the industry environments; thirdly, to judge and certificatethe influence of the lags-performance on the dimensions of the resources allocation.The empirical results show that the resources allocation significantly affect thefinancial performance, but several dimensions of resources allocation have noinfluence on market performance; the industry environments significantly affectenterprises performance, and the view that to explore environment from the embeddedperspective is proved; The moderating effects of industry environments is selective,and the industry environments only regulates the relationship between somedimensions of resources allocation and performance; the resources allocation isdetermined by the industry environments and the lags-performance, this result is usefulto predict and guide future resources allocation for enterprises.