The Research Of Coal Enterprise Integration And Enterprise Performance

Business integration is an eternal topic.In recent years,the wave of consolidation of coal enterprises has taken off.The consolidation of coal enterprises has indeed brought about the further concentration of resources,the improvement of the collectivization of coal enterprises and the reduction of potential safety accidents.But is business integration a panacea? From the actual integration effect,the integration did not improve the performance of coal enterprises.So,why coal companies to integrate? How effective is the integration of coal enterprises? The answers to these questions are of crucial importance to the implementation of coal enterprise integration in C hina.Therefore,this paper studies the above problems in the context of the integration of coal enterprises in China.In this paper,we first use the literature analysis system to sort out the domestic and foreign research results about the business integration and its business performance,understand the research progress of the business integratio n,define the connotation of business integration and business performance,probe into the motivation,integration target and integration The process of the problem,a detailed description of the business integration brought about by the expansion of the scale of enterprises and industry concentration,and to build a coal research framework for the integration.Then,using the empirical analysis method,we get the relevant data of coal enterprises through the network channels such as China's Yearbook of Coa l Industry and C hina Statistical Yearbook.Based on the data of China's coal industry from 1998 to 2015,we examine the impact of business integration on business performance.Through the correlation analysis of the empirical data,the following main conclusions are drawn: Through the threshold regression analysis,it is found that there is an obvious non-linear characteristic between the enterprise performance and the industrial concentration index based on the sales profit rate,that is,the industrial co ncentration degree is not necessarily improved To promote the rise of profit margin.Specifically,when the industrial concentration is less than 10.91,the degree of industrial concentration on the profitability is 0.1190(p <0.10);when the industrial co ncentration is less than 14.11 and greater than or equal to 10.911,the degree of industrial concentration on the profitability(P <0.01).With the further increase of industrial concentration,when it is in the range of 14.11 to 20.51,the effect of industrial concentration on profit margin sharply dropped to 0.0457(p <0.01);further,when When the industrial concentration is less than 24.51 and greater than or equal to 20.51,the rise in industrial concentration does not bring about an increase in the profit rate,the specific impact is-0.0563(p <0.01).Based on the results of the study,this paper puts forward some suggestions on how to improve the performance of coal enterprises,including the goal of scientifically positioning the integration of coal enterprises,optimizing the integration path of coal enterprises and enhancing the technological innovation capability of coal enterprises.The related research of coal enterprise integration is to enrich and perfect the integration theory and provide a reliable basis for the enterprise to optimize the integration strategy.It provides a reference for investors' investment decision-making and has realistic guidance significance for optimizing coal resource allocation and improving performance.