Basic technique of decision - making of investment is pb rule , arr rule , npv rule , irr rule and pi rule . and npv rule is viewed as a better method . there are two parameters needing to be decided in npv formula , one is project ' s cash flows , the other is project ' s cost of capital . estimating cash flows should obey the basic principle : with / without principle 在净现值公式中，有两个重要的变量需要确定，一是项目现金流量，一是项目资本成本。估计项目现金流量是应遵循的最基本原则是相关不相关原则，以此来识别项目的相关现金流和非相关现金流，重点要考虑的是机会成本和销售额侵蚀成本。
In addition , no - thorough system of supervision , management and motivation in national companies plus the emotional deeds leads to the loss of colored tv line . this paper analyses the new forms of price - war in oem and diversify . oem is just a mean to release the oversupply situation ; diversification will increase the risk rather than reduce the risk eventually 从中认识到oem只是我国彩电企业缓解目前市场上供大于求的一种手段，但由于其本身的脆弱性，不能作为一种长远发展手段；企业的非相关多元化战略不但不能降低企业的经营风险，反而有可能增大企业的风险，导致企业经营的失败。
From the analysis in theory , in the background of uncorrelated noise , the algorithms of lmstde , etde and etdge have good property in estimating delay . in the background of correlated noise , the lmstde is failed , but the etde and etdge can still estimate delay in sometime . their effect of estimation is strongly affected by the real time delay 理论分析表明，在非相关背景噪声下lmstde算法、 etde算法和etdge算法均有着良好的估计性能；在相关背景噪声下，传统的lmstde算法无能为力，而etde算法和etdge算法依然具有时延估计的能力，但是它们的估计效果要受到时延真值的影响。
Finally , the thesis came to a conclusion that hotel performance and diversification strategy present a negative correlation at the beginning stage , although the overall degree of diversification could strengthen risk - resistance ability under certain circumstances . contrary with traditional theories , hotel performance is positively correlated with the degree of non - related diversification while uncorrelated with the degree of related diversification under china ' s current economic conditions . although scale of a hotel has great impact on diversification and is in a certain degree positively correlated with hotel performance , the correlation between them is not apparent 最后，本文得出的结论认为：虽然总体多元化程度在一定的形势下能够增强饭店的抗风险能力，但是饭店业绩效与总体多元化程度在多元化战略初期呈负相关关系；在目前中国的经济环境下，与传统理论不符的是，饭店绩效与非相关多元化程度存在着正相关关系，和相关多元化程度不存在显著的相关关系；规模虽然对饭店的多元化有重大影响，与饭店绩效呈现一定的正相关关系，但两者间的相关度较小。
3 . the diversification type has no prominent effect on profitability no matter for sme or lse , but on the sales growth , there is some empirical difference between some diversification types , especially between unrelated diversification strategy and main product strategy 不管是中小型企业还是大型企业，多角化战略类型对企业盈利能力没有显著影响，但在企业销售增长率上，有些多角化战略类型之间却存在着显著统计差异，这种差异主要体现在非相关产品战略和主导产品战略之间。
