Diversification,Core Competence And Corporate Performance:the Moderating Effect Of Environmental Uncertainty

Existing theoretical studies agree that the key to improving the performance of Corporate is to enhance the core competitiveness of Corporate,the core competitiveness of the Corporate Performance is good.However,in reality there is a strong core competitiveness of Corporate,its performance may not be superior to this special phenomenon.Then the reality phenomenon on the contradiction of how to explain? Secondly,the impact of the global financial crisis in 2008,nearly 80% China Corporate have been seriously affected,loss,semi shutdown of production Corporate,a sharp economic downturn,only a few enterprise growth market in the financial crisis.Some researches show that diversification has spread business risk effect,can reduce the earnings volatility;in the current financial crisis,relying on the development of diversified business enterprise,its performance is poor,the outcome is different.The economic globalization makes the enterprise external business environment more cranky,the performance of this highly uncertain environment of diversified Corporate will produce what kind of impact? Core competitiveness in the diversification of Corporate Performance and the results of what kind of role? The study did not explore the relationship between the integration of environmental uncertainty,diversification,core competitiveness and Corporate Performance,for the core competitiveness in the environment under conditions of uncertainty,how to influence the lack of in-depth analysis of the mechanism of the relationship between diversification and corporate performance,can not make a reasonable explanation for the above actual phenomenon.Therefore,this method from relevant institutions core competence evaluation,quantitative treatment on the efficacy coefficient method is used;and take it as the intermediary variable,and the environmental uncertainty as moderating variable,using WLS regressionanalysis method,discusses the mechanism of the effect of diversification and Corporate Performance.The research shows that the core competence has a partial mediating effect between diversification and corporate performance;environmental uncertainty negative relationship between corporate diversification and performance regulation,positive regulation of core competence and the relationship between Corporate Performance.This is from a point of view that:(1)the performance of diversified Corporate are more indirect effects from diversification directly affect itself and less from its core competitiveness by means of action;Corporate engaged in diversified business purpose than simply the pursuit of good corporate performance,and not in order to enhance the core competitiveness of Corporate in order to improve the performance;also resulted in a stable operating environment,better performance of the diversified Corporate,the core competitiveness is not strong anomalies appear.(2)a drastic change in the face of the global financial crisis brought about by the external business environment,market demand low-spirited,the degree of competition among Corporate increasing factors such as the external environment to improve the level of uncertainty,the diversification to cultivate a strong core competitiveness of the enterprise,can quickly adjust business strategy,will resources into new uses,to open up new markets even to achieve operating income growth in a stable and even a severe financial crisis.The simple pursuit of profit of diversified Corporate,because of its core competitiveness is low,lack of ability to adapt to the strategy,despite the diversification of income sources,but also because of the external business environment and the impact of sudden mutation of helpless,all gone the original diversified business advantage,even subject to rigid due to the formation of the original investment in strategic resources,the the outcome is bad influence can only be taken down to save the cost of contracting strategy to cope with the financial crisis,the decline in performance,shutting down the inevitable bankruptcy.Through this research,it will provide some useful references for the management decision making,management accountability assessment and the related investment decision.