Study on Relationship Between Life Cycle and Diversification —Inspection on Hypothesis of Life Cycle

摘要

The paper divided listed companies of tourism industry in China into five subsidiary industries: star hotel,restaurant,scenery,tourism tenement and synthetic,and then divided operating strategies of those companies into four types according to index of SR: single business strategy, main business strategy,correlation diversification strategy ,un-correlation diversification strategy; Thirdly,the paper estimate the stage of those companies' life cycle according to ages of their listed times and scale of their asserts; and fourthly,the paper estimate the stage of those industry's life cycle according to the index of sales increase ratio; In the last,the paper analysis relationships among diversification,performance and life cycle of those companies,and the conclusion is that the diversification activities of listed tourism companies is almost match to hypothesis of life cycle.