随着全球经济一体化趋势的愈发明显、国际竞争的日益激烈、国内政策对产业服务 化的积极推动，建筑业企业业务边界日益拓展、服务倾向愈发浓重，服务化已经逐渐得 到建筑业企业重视。然而，服务化战略的研究更多出于制造业，对建筑业企业服务化战 略的研究还处于起步阶段。那么，建筑业企业服务化战略具有哪些类型？建筑业企业服 务化战略如何影响财务绩效?国际化、所有制差异等企业特征在这种影响中扮演了什么 样的角色？ 本研究以建筑业企业为研究对象，构建建筑业企业服务深化、服务延伸两种服务化 战略对财务绩效的影响模型。通过对139家上市建筑公司的财务数据进行收集，剔除数 据缺失、具有退市风险的企业，运用面板数据固定效应模型，实证分析了不同服务化战 略对财务绩效的影响，并且进一步进行了所有制、国际化的调节效应分析。研究发现： （1）建筑业企业服务化是一种由“承包商”向“服务商”转型升级的过程，其重要手段是服 务化战略，建筑业企业服务化战略可分为服务深化、服务延伸两种。（2）建筑业企业 服务化战略显著正向影响其财务绩效。（3）所有制、国际化在服务化战略与财务绩效 之间均发挥着调节作用，其中相较于国际化企业，本土企业服务化战略提高财务绩效效 果更为显著；国有企业采取服务延伸战略、非国有企业采取服务深化战略提高财务绩效 更为显著。 本研究力图在以下几个方面进行创新：（1）提出符合建筑业企业实践的服务化概 念和服务化战略类型。（2）提出建筑业企业服务化战略与财务绩效关系模型，进一步 的，提出所有制、国际化差异等企业特征在服务化战略与财务绩效之间的调节作用。 关键词：建筑业企业，服务化，服务化战略，财务绩效 II Abstract Withtheincreasinglyobvioustrendofglobaleconomicintegration,theincreasingly fierceinternationalcompetition,andthepositivepromotionofdomesticpoliciesonindustrial service,thebusinessboundaryofconstructionenterprisesisexpandingdaybyday,andthe servicetendencyisbecomingmoreandmoreintensive,andtheservicehasbeengradually valuedbyconstructionenterprises.However,theresearchofservicestrategyismorefromthe manufacturingindustry,andtheresearchofservicestrategyofconstructionenterprisesisstill initsinfancy.So,whatarethetypesandtypicalbehaviorsofservicestrategyofconstruction enterprises?Howdoestheservicestrategyofconstructionenterprisesaffectthefinancial performance?Whatroledoesthecharacteristicsofenterprisessuchasinternationalizationand ownershipdifferenceplayinthisinfluence? Thisstudytakesconstructionenterprisesastheresearchobject,accordingtothelogic lineofservicebehaviorandresult,analyzesthetypesandtypicalbehaviorsofconstruction enterprises'service,andconstructstheinfluencemodeloftwoservicestrategiesofservice deepeningandserviceextensiononfinancialperformance.Bycollectingthefinancialdataof 139listedconstructioncompanies,excludingtheenterpriseswithdatamissinganddelisting risk,usingpaneldatafixedeffectmodel,thispaperempiricallyanalyzestheimpactof differentservice-orientedstrategiesonfinancialperformance,andfurtheranalyzesthe regulatoryeffectofownershipandinternationalization.Itisfoundthat:(1)the service-orientedstrategyofconstructionenterprisescanbedividedintotwotypes:Service deepeningandserviceextension.(2)Theservicestrategyofconstructionenterpriseshasa significantpositiveimpactontheirfinancialperformance.(3)Ownershipand internationalizationplayaregulatoryrolebetweenservicestrategyandfinancialperformance. Comparedwithinternationalenterprises,localenterprises'servicestrategyimprovesfinancial performancemoresignificantly;state-ownedenterprises'serviceextensionstrategyand non-state-ownedenterprises'servicedeepeningstrategyimprovefinancialperformancemore significantly. III Thisstudytriestoinnovateinthefollowingaspects:(1)putforwardtheconceptof serviceandthetypeofservicestrategy,andanalyzethetypicalbehaviorsofdifferenttypesof service.(2)Accordingtothe"behaviorresult"logiclineofconstructionenterpriseservice, thispaperputsforwardtherelationshipmodelbetweenconstructionenterpriseservice strategyandfinancialperformance.Furthermore,itputsforwardtheregulatoryeffectof ownership,internationaldifferencesandotherenterprisecharacteristicsbetweenservice strategyandfinancialperformance. Keywords:Constructionenterprise,Service,Servicestrategy,FinancialPerformance IV 目录 第一章绪论....................................................................................................................1 1.1研究背景与研究问题...........................................................................................1 1.2研究目标与意义...................................................................................................2 1.2.1研究目标.........................................................................................................2 1.2.2研究意义.........................................................................................................3 1.3研究方法与技术路线...........................................................................................3 1.4研究框架及主要内容...........................................................................................5 1.5可能的创新之处...................................................................................................6 第二章文献综述............................................................................................................7 2.1建筑业企业服务化研究.......................................................................................7 2.1.1建筑业企业服务化的概念.............................................................................7 2.1.2建筑业企业服务化战略类型.........................................................................9 2.2企业财务绩效的影响因素研究.........................................................................11 2.2.1服务化战略对财务绩效的影响研究............................................................11 2.2.2企业特征的调节效应研究............................................................................12 2.2.3财务绩效的其他影响因素研究....................................................................13 2.3简要述评.............................................................................................................13 第三章理论模型构建及研究假设..............................................................................15 3.1理论模型构建方法.............................................................................................15 3.1.1资料来源.......................................................................................................15 3.1.2数据筛选.......................................................................................................17 3.2扎根理论分析.....................................................................................................19 3.2.1开放式编码...................................................................................................19 3.2.2主轴式编码...................................................................................................22 3.2.3选择性编码...................................................................................................24 3.2.4理论饱和度检验及模型解释.......................................................................24 3.3进一步阐释及研究假设.....................................................................................25 3.3.1基本效应模型...............................................................................................25 3.3.2调节效应模型...............................................................................................27 第四章实证分析..........................................................................................................30 4.1研究设计.............................................................................................................30 V 4.1.1样本选择与数据来源...................................................................................30 4.1.2变量测度.......................................................................................................30 4.1.3模型设定.......................................................................................................33 4.2建筑业企业服务化战略现状分析.....................................................................34 4.2.1描述性统