Research on product market competition and risk of assets

2011 International Conference on Management Science & Engineering 18th Annual Conference Proceedings Pub Date : 2011-11-07 DOI:10.1109/ICMSE.2011.6070010

Wei Lin, Xu Li-wen

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引用次数: 1

Abstract

Aguerrevere (2009) links the product demand, product market competition and risk of assets, then reveals the relationship between the three factors; This paper is based on objective facts, using the evidences from the A share listed companies Chinese for empirical study, in order to reveal the relationship between these factors in real world. The results of the empirical study show: when the demand is high, increased demand at higher levels, the risks of assets decease as the demand rises, therefore the risks of assets in high demand are significantly lower than low levels of demand; when demand is low, firms in more competitive industries have greater risk of assets than firms in less competitive industries; whereas when demand is high, firms in less competitive industries have greater risks of assets than firms in more competitive industries. The empirical study results are consistent with the theoretical conclusion in Aguerrevere's (2009) paper. Finally, according to our study, we give some suggestions to investors, firms and department of economic management respectively.

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产品市场竞争与资产风险研究

Aguerrevere(2009)将产品需求、产品市场竞争和资产风险联系起来，揭示了三者之间的关系;本文以客观事实为依据，利用来自中国A股上市公司的证据进行实证研究，以期揭示这些因素在现实世界中的关系。实证研究结果表明:当需求较高时，较高水平的需求增加，资产的风险随着需求的增加而降低，因此高需求资产的风险显著低于低需求水平;当需求较低时，竞争力较强行业的企业比竞争力较弱行业的企业拥有更大的资产风险;然而，当需求高时，竞争较弱行业的公司比竞争较强行业的公司有更大的资产风险。实证研究结果与Aguerrevere(2009)的理论结论一致。最后，根据研究结果，分别对投资者、企业和经济管理部门提出了建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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2011 International Conference on Management Science & Engineering 18th Annual Conference Proceedings

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