Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Faculty of Business | en_US |
| dc.contributor.advisor | 苏黎新 (AF) | en_US |
| dc.creator | 刘雁甲 | - |
| dc.creator | Liu, Yanjia | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/14563 | - |
| dc.language | Chinese | en_US |
| dc.publisher | Hong Kong Polytechnic University | en_US |
| dc.rights | All rights reserved | en_US |
| dc.title | 地域多元化与企业价值：来自房地产行业的证据 | en_US |
| dcterms.abstract | 过往关于多元化投资与企业价值关系的研究未能达成一致结论，主要源于研究视角、情境、数据周期及关键指标测量方式的差异。房地产行业的多元化主要表现在地域多元化。由于数据获取难度大，房地产行业现有文献主要集中于发达国家的 REITS 基金，针对新兴市场房地产开发业务的地域多元化与企业价值的关系研究相对匮乏。 | en_US |
| dcterms.abstract | 本文聚焦中国房地产情境下地域多元化投资对企业价值的影响机制，通过收集整理对中国房地产行业更具代表性的港股内房股公开财报、公开的土地投资信息，构建跨行业周期的地域多元化投资面板数据库，突破了过往文献对地域多元化测量方式的局限性。结合资源基础观、交易成本理论和信号理论构建的分析框架，本文提出并验证了四个研究假设。其中主要假设是地域多元化差异性如何影响资本市场对企业估值，之后引入了地域制度与经济环境差异，地域多元化投资强度差异，地域多元化投资速度等特征，做出三个辅助假设，进一步分析了地域多元化对企业价值影响的调节机制。 | en_US |
| dcterms.abstract | 实证结果表明：第一，地域多元化程度与企业价值呈显著正相关；第二，高等级城市投资策略对地域多元化价值具有显著负向调节效应，揭示了高等级城市的制度环境复杂性导致的交易成本高于资源能力优势；第三，战略性城市重投资策略，和第四，新城市拓展速度，均对地域多元化价值具有显著正向调节效应，说明资本市场认可聚焦式多元化和快速地域扩张传递的能力验证信号。 | en_US |
| dcterms.abstract | 本研究的贡献体现在两方面：实践层面是对中国房地产行业经历二十年高速发展后进入改革深水区的学术反思，为房地产企业优化地域多元化战略提供了实证支持；理论层面，丰富了地域多元化量化方法，基于外部投资者视角创新性地将信号理论应用于地域多元化研究，拓展了企业多元化战略在特定行业情境下的理论应用边界。 | en_US |
| dcterms.alternative | Geographic diversifiction and firm value : evidence from real estate industry | en_US |
| dcterms.extent | 103 pages : color illustrations | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2025 | en_US |
| dcterms.educationalLevel | D.Mgt. | en_US |
| dcterms.educationalLevel | All Doctorate | en_US |
| dcterms.accessRights | restricted access | en_US |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 9077.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 1.71 MB | Adobe PDF | View/Open |
Copyright Undertaking
As a bona fide Library user, I declare that:
- I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
- I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
- I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.
Please use this identifier to cite or link to this item:
https://theses.lib.polyu.edu.hk/handle/200/14563