چکیده:
This study aimed to investigate the effect of diversification strategy, cost leadership
strategies and product differentiation on business unit value that the statistical
sample is consisted of 104 companies listed on the Tehran Stock Exchange during
the years 2010-2014 that have been selected using systematic elimination method
that totally were 520 years-firm. This study in terms of the objective is practical.
In terms of type of research design because of relying on historical data, is postevent
and its inference method is inductive and in correlation type. This study
includes six main hypotheses. In this study to assess the hypotheses, the linear
regression has been used. To analyze the data and test hypotheses, EVIEWS software
is used. According to the regression results, the company’s cost leadership
strategy has a significant and positive effect on company’s value as well as attractiveness
of the industry has an impact on the effectiveness intensity of the company’s
cost leadership strategy, and the company's diversification strategy also has
an impact on the company’s values and the results suggest the ineffectiveness of
diversification strategy and product differentiation strategy on the company’s
value and also ineffectiveness of attractiveness of the industry on the effectiveness
intensity of product differentiation strategy on the company’s value.
خلاصه ماشینی:
H2 Analysis The results of the H2 evaluation is presented in table 7: Table 7: The summary of the H2 pattern results (View the image of this page) In table 7, the probability of t-statistic for coefficients of variables including the effect of industry attractiveness on diversification strategy, sales natural logarithm, financial leverage, cash flow and the ratio of capital expenditures to company’s value is less than 5%, therefore, the above relationship sta- tistically is significant, so the industry attractiveness has an impact on the effectiveness intensity of company’s diversification strategy on company’s value.
H3 Analysis The H3 evaluation results are presented in table 9: Table 9: The summary of H3 pattern results: (View the image of this page) In table 9, the probability of t-statistic for coefficients of variables including sales natural logarithm, financial leverage, cash flow and the ratio of capital expenditures to company’s value is less than 5%, therefore, the above relationship statistically is significant.
The H6 Analysis The results of H5 evaluation are presented in table 15: Table 15: The summary of H6 pattern results (View the image of this page) In table 15, the probability of t-statistic for coefficients of variables including the effect of industry attractiveness on cost leadership strategy, sales natural logarithm, financial leverage, cash flow and the ratio of capital expenditures to company’s value is less than 5%, therefore, the above relationship statistically is significant therefore the null hypothesis is rejected.