多元化與管控模式的匹配性對企業績效的影響

Abstract

This paper is based on the fact that many companies choose diversified operations in the development process, but there are many problems in diversified operations. Considering that the management and control model is critical to the implementation of corporate diversification strategies. This paper is also considered the following theoretical backgrounds: there are still major controversies and diversification results, the impact mechanism of corporate performance is still unclear, the conceptual connotation and functioning mechanism of the management and control model need to be further studied, and the research on diversification and the matching of the management and control model is extremely lacking. . This paper is based on firm growth theory, resource-based theory, principal-agent theory,. starting from the matching of diversification and management and control models, conduct research on the internal management of diversified companies, explore the differences in preferences of companies with different diversification strategies for management and control models, and discuss the impact of matching on corporate performance. On this basis, further explore the role of entrepreneurial characteristics and corporate dynamics in this process.

After theoretical research and empirical research on 375 valid questionnaires, this article found that:

(1) The degree of diversification and the type of diversification can better describe the diversification strategy of an enterprise. Among them, the degree of diversification reflects the number of business units of an enterprise, focusing on the scope and number of business operations; the type of diversification reflects the correlation between business units of the enterprise. Diversity does not directly affect corporate performance. Companies with different levels of diversification and different types of diversification have little difference in performance.

(2) The management level and degree of control can better describe the management and control mode of the enterprise. Among them, the management level reflects the number of levels that an enterprise has from top to bottom with management and management, and leadership and management; and the degree of management and control reflects the degree of discretion or autonomy of the business unit. The management and control model has a direct impact on corporate performance. The management level and corporate performance show a weak positive correlation, while the degree of management and control has a significant negative impact on corporate performance.

(3) There is an optimal combination of corporate diversification and management and control models, but under different diversification strategies, the preferences of corporate management and control models are not consistent with the optimal combination, and there is generally a large room for improvement in corporate management and control models. On the one hand, under different diversification strategies, there are big differences in the management level choices of enterprises, indicating that the diversification strategy of enterprises is closely related to organizational design; and there is no obvious preference for the choice of management and control degree of different diversified enterprises. On the other hand, from the perspective of corporate operational effects, under the established diversification strategy, companies that choose the corresponding management and control model usually have higher performance. However, from the actual situation, the preference of different diversified companies for the choice of management and control mode is obviously inconsistent with the most suitable management level of the company.

(4) The matching of diversification and management and control models has a significant impact on corporate performance. The degree of diversification and the matching of the management level, the matching of the diversification degree and the degree of control, the matching of the diversification type and the management level, the matching of the diversification type and the degree of control all positively affect the performance of the company. There are obvious differences in the performance of companies in the situation of matching.

(5) Entrepreneur characteristics positively affect enterprise performance. The more obvious the entrepreneurial achievement motivation, proactiveness, innovation, and risk-taking characteristics, the better the enterprise performance. In addition, the relationship between diversification and control model matching and performance is affected by the characteristics of entrepreneurs. In the case of high risk, the importance of diversification, diversification type and management level matching will increase; achievement motivation In the case of high, the degree of diversification and the matching of diversification type and degree of control will be less important to the enterprise.

(6) Corporate dynamic capabilities positively affect corporate performance. The stronger the corporate perception, acquisition, and restructuring capabilities, the better the corporate performance. In addition, the relationship between diversification and control model matching and performance is affected by the dynamic capabilities of the enterprise: the stronger the perception and restructuring ability, the greater the degree of diversification and the matching of the diversification type and the degree of control will be less important to the enterprise .

The research in this paper further explores the relationship between diversification and corporate performance, clarifies the conceptual connotation of the management and control model, and studies its role in the process of corporate diversification. The matching of diversification and management and control models is carried out. Researching and exploring its impact on corporate performance, and in-depth research on the role of entrepreneurial characteristics and dynamic capabilities, can supplement the deficiencies of existing theories to a certain extent, and provide meaningful enlightenment for corporate management practices.

Date of Award	15 Dec 2021
Original language	Chinese (Traditional)
Awarding Institution	City University of Hong Kong
Supervisor	Mingjie Rui (External Supervisor) & Haibin YANG (Supervisor)