DTYERSIFIKASI INDUSTRIAL DAN NII,AI PEMEGANG SAHAM DI CHINA KASUS PERUSAI{AAN MANUFAKTUR YANG LISTED DI BURSA SHANGHAI

The factgtowiag ecoaoay, iastiatioaal aad ecoaomic refotms made the Chiaesee equity marb6 the third largest ia Ash.Thb bads to sfretegiel of industial divetsifrciatioa witbin Chiaesse frm. Fiaaacial theory sr{gessr that industial diretsifrcatioa ua-v haue aduaatages io eaetging madrea, because cooglometates ete bettet able to cope with matl*et inp{etr,tioale thaa focused fitn. Tbe eady chow thet Chheese diyetxifred fimrs ate underperfotmiag ia coaparieon to frcused fitzrs. The potential peitire effects to
induetrhl divetaification are thus smalbr thaa the aegetiue etre"a. Some aepects, idclude ayopic sharehoHes, ,nan? ge,ffat histoty aad iaadequate rcguhtioa of shereholdet,'
intetest may have contibuted to tfu cuaent oegztive diyenifrcatioa efrecu in Chiaa.