| Agriculture is the foundation of our national economy,and its healthy development plays a vital role in promoting social harmony and economic development.In recent years,the No.1 Document of the Central Government has continuously focused on the three rural areas and formulated a series of development policies on agriculture and agriculturerelated enterprises.It has pointed out the direction for the development of China's agriculture and is also sufficient to reflect the importance the state attaches to agricultural development.However,the production of agriculture in China has always been dominated by traditional agriculture,which is one of the reasons why the country has been advocating agricultural transformation and upgrading in recent years.Therefore,it is an urgent problem for the agricultural industry to promote the transformation and upgrading of the agricultural industry and accelerate the development of China's agricultural industrialization.As a leading enterprise in the agricultural industry,agricultural listed companies have an important leading role in the stability of China's agricultural economy,and they bear the dual mission of important corporate responsibility and social responsibility.However,with the rapid development of the social economy,more and more enterprises are involved in other industry businesses related to their main business or not related to their main business,that is,the company has carried out Diversified business strategies,and agricultural listed companies are no exception.Moreover,some agricultural listed companies are becoming more diversified,and even the situation of “back farming” has emerged,deviating from the core competitiveness of the agricultural industry and turning to other industries.However,empirical research has shown that diversification does not lead to absolute performance improvement.The issue of the impact of diversification on corporate performance has always been a topic of concern in the academic world,and there has not been a unified conclusion.Therefore,studying the impact of diversification on the performance of agricultural listed companies has important practical and theoretical significance.Based on this,this paper will focus on the impact of diversification on the performance of agricultural listed companies.By combining the theoretical and empirical analysis methods,select the appropriate index system and establish a correlation model between the two.What is the relationship between different types of diversified operations and company performance,and propose corresponding policy recommendations.I hope that it can provide a valuable reference for the choice of the development strategy of China's agricultural listed companies and the development of the agricultural industry.Therefore,this paper is based on the diversification of agricultural listed companies.The balance panel data of 49 agricultural listed companies in China and Shenzhen are selected as research samples to study whether different types of diversification will be investigated.The impact of the performance of agricultural listed companies in China and how it affects the performance of agricultural listed companies.This article mainly includes the following seven parts.First of all,the introduction part mainly introduces the research background,research purpose and research significance of this paper.Then it puts forward the research methods of this paper and lists the research content and framework of the article.Finally,the research deficiencies and possible innovations of this paper are given.Then,in the literature review section,this paper reviews and comments on relevant literature at home and abroad on the basis of reading a large number of documents.Subsequently,relevant concepts and theoretical parts,in this part,explain the relevant concepts involved in the article.Then on the basis of synergy theory,market structure behavior theory and decentralized risk theory,this paper further analyzes the mechanism of agricultural listed companies' implementation of diversified business strategy.Then,it analyzes the operation status of China's agricultural listed companies.This part begins with the company's Based on the regional distribution,scale and operation status,this paper analyzes the current status of the operation of agricultural listed companies,and further analyzes the diversified management status and diversified business types of agricultural listed companies in China,and lays down the empirical analysis for the latter.Foundation Because agricultural listed companies and corporate performance have a certain degree of mutual causality,they select five financial indicators and use factor analysis to rank the indicators in five aspects,and further analyze the performance of the company.The impact of the implementation of the business strategy;Finally,the empirical analysis part of the paper first gives the selection of the research sample and the data source,then selects the index system suitable for the research of this paper,and further proposes the research hypothesis and design according to the previous analysis.Based on the descriptive statistical analysis of the indicator system,the corresponding research models are used to make a corresponding regression analysis on the impact of different types of diversified operations on the performance of agricultural listed companies..In the end,the study found that,overall,there is a negative correlation between diversification and corporate performance;specifically,single and unrelated diversification are presented at the level of 0.1 and 0.05 and company performance,respectively.There is a significant negative correlation;there is no significant relationship between dominant and related diversification types and company performance.In this regard,this paper puts forward the following suggestions: cultivate the core competitiveness of agricultural listed companies;follow the trend of the times,grasp the new opportunities of Internet + agriculture development;seek truth from facts,choose the right business strategy. |
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