股权结构、多元化与公司绩效——基于结构方程模型

Q2 Economics, Econometrics and Finance

Journal of Real Estate Portfolio Management Pub Date : 2016-01-01 DOI:10.1080/10835547.2016.12089980

Hong Zhang, Shuai Gao, Michael J. Seiler, Chen Jiawei

{"title":"股权结构、多元化与公司绩效——基于结构方程模型","authors":"Hong Zhang, Shuai Gao, Michael J. Seiler, Chen Jiawei","doi":"10.1080/10835547.2016.12089980","DOIUrl":null,"url":null,"abstract":"Executive Summary Instead of disparately measuring relations between pairs of two measurements, in this study we use structural equation modeling to simultaneously measure the intricate inter-relationships amongst ownership structure, diversification, and corporate performance. We find that ownership concentration is positively related to corporate performance, the degree of diversification and corporate performance are negatively related, and that when examining the mediator effect of diversification between ownership structure and corporate performance, corporations decrease diversification to maintain corporate value.","PeriodicalId":35895,"journal":{"name":"Journal of Real Estate Portfolio Management","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":"{\"title\":\"Ownership Structure, Diversification, and Corporate Performance Based on Structural Equation Modeling\",\"authors\":\"Hong Zhang, Shuai Gao, Michael J. Seiler, Chen Jiawei\",\"doi\":\"10.1080/10835547.2016.12089980\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Executive Summary Instead of disparately measuring relations between pairs of two measurements, in this study we use structural equation modeling to simultaneously measure the intricate inter-relationships amongst ownership structure, diversification, and corporate performance. We find that ownership concentration is positively related to corporate performance, the degree of diversification and corporate performance are negatively related, and that when examining the mediator effect of diversification between ownership structure and corporate performance, corporations decrease diversification to maintain corporate value.\",\"PeriodicalId\":35895,\"journal\":{\"name\":\"Journal of Real Estate Portfolio Management\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2016-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"6\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Real Estate Portfolio Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/10835547.2016.12089980\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"Economics, Econometrics and Finance\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Real Estate Portfolio Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/10835547.2016.12089980","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}

引用次数: 6

摘要

在本研究中，我们使用结构方程模型来同时测量股权结构、多元化和公司绩效之间复杂的相互关系，而不是分别测量两种测量对之间的关系。研究发现，股权集中度与公司绩效正相关，多元化程度与公司绩效负相关;在考察股权多元化对公司绩效的中介效应时，公司为了维护公司价值而减少多元化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Ownership Structure, Diversification, and Corporate Performance Based on Structural Equation Modeling

Executive Summary Instead of disparately measuring relations between pairs of two measurements, in this study we use structural equation modeling to simultaneously measure the intricate inter-relationships amongst ownership structure, diversification, and corporate performance. We find that ownership concentration is positively related to corporate performance, the degree of diversification and corporate performance are negatively related, and that when examining the mediator effect of diversification between ownership structure and corporate performance, corporations decrease diversification to maintain corporate value.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Journal of Real Estate Portfolio Management Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)

自引率

0.00%

发文量

期刊介绍： The Journal of Real Estate Portfolio Management (JREPM) is a publication of the American Real Estate Society (ARES). Its purpose is to disseminate applied research on real estate investment and portfolio management.