CAJ | 학술논문

房地产业已成为众多企业实行多元化战略的首选。文章针对2002—2010年间沪深两市涉足房地产业的220家企业，运用非参数检验方法，对企业涉足房地产业对绩效的影响进行实证检验。最终结果显示：短期内，涉足房地产业显著改善企业盈利能力，但伴随着资产负债率的增长。企业决策者应根据自身情况制定公司发展战略，不能盲目涉房经营；外界投资者也要审慎评估此类公司，做出正确的投资决策。
방지산업이성위음다기업실행다원화전략적수선。문장침대2002—2010년간호심량시섭족방지산업적220가기업，운용비삼수검험방법，대기업섭족방지산업대적효적영향진행실증검험。최종결과현시：단기내，섭족방지산업현저개선기업영리능력，단반수착자산부채솔적증장。기업결책자응근거자신정황제정공사발전전략，불능맹목섭방경영；외계투자자야요심신평고차류공사，주출정학적투자결책。
The real estate industry has become a large enterprise diversification strategy choice. According to the 220 companies involved in real estate in Shanghai and Shenzhen from 2002 to 2010, using non-parametric test method, this study managed to evaluate the overall performance of non-professional real estate listed companies. Empirical results show that the performance of the enterprises indirectly related to real estate could promote the companies＇ accomplishments, but along with the growth of the asset-liability ratio. Based on these findings, companies can strategical- ly guide its own development without involving housing business blindly, and outside investors can make the right decisions under assessing such companies carefully.