旅游上市公司多元化发展特征的实证分析

自跨入新世纪以来,旅游企业多元化问题引起了国内学者的极大关注,但其发展特征却缺乏最基本的归纳与解释.本文选取18家旅游上市公司2002年和2009年的年报资料,用业务单元数衡量多元化经营程度,参照国家行业分类标准,通过对样本公司的多元化总体特征、类型特征和路径特征归纳与梳理,在一定程度上回答了该如何实施业务的多元化扩张战略的问题.结果表明：旅游上市公司业务多元化发展总体上表现出一定程度的扩张态势;在类型上以业务相关为主;在路径方式上以后向市场协同和技术协同为主,且在样本公司扩张路径的选择上,技术协同方式较市场协同方式占优势.

An Empirical Analysis of Diversified Development Characteristics of Listed Tourism Companies

Since the beginning of the new century, the diversification issue of tourism enterprises has drawn great attention of domestic scholars. However, few attentions are given to the induction and explanation of their characteristics. Through strict data selection of the annul reports of 18 listed tourism companies we use the number of business units to measure the level of diversification with the reference of national industry classification standards to summarize and sort the overall characteristics, and the types and paths of the diversification of the sample companies. It answers a part of the question that is ： how to implement the strategy of diversified expansion of business. The findings show that： the diversification of listed tourism companies are expanded to a certain degree from the overall aspect; most of the diversification is business-related, and develops on the path of backward-market, and technical synergy that is dominant in the selection of the expansion paths of the sample companies.