Government Control Effect On China’s Information Industry Listing Corporation

Due to China’s unique political, economic, social environment, the governmentcontrol the phenomenon exists generally in the enterprises in our country. On theimpact of government control for the enterprise in our country many research results,but, still no unified conclusion.This paper selected the information industry as the research sample of industry,because of the information industry itself has high profitability and high permeability,and these special characteristics laid the status of its leading industry, the governmenthas more on the regulation and attention, the results more representative.Under the above background, specifically in this paper, three problems arestudied:(1) for the center in general whether the corporate control of listed company ofinformation industry performance is significantly higher than the rest of theinformation industry(2) the government control of listed company of information industry listedcompany performance is significantly lower than the rest of the information industryof the listed company(3) local government control of the information industry of listed companies, thecentral government control of the information industry, general corporate control oflisted companies information industry listed company performance of these threeorder from high to low? And in these three questions based on the three hypothesesare put forward.In the empirical part, this paper extracted the information industry of56companies as sample, the56companies can be divided into three categories, collectedthe semi-annual panel data from2004to2011were studied. Through empirical resultscan know, in our country listed company of information industry, the enterprisescontrolled by the government related reform measures produced results, generalcorporate control of the enterprise did not have the absolute advantage in businessperformance. However, local government type control performance significantlyunder central government control and general legal person control type. This may bedue to local government more tax revenue, retired worker, full employment and othersocial causes of public responsibility, lower cost of intervention has prompted thelocal government takes control of the resources of listed companies.Therefore, the development of information technology in line with the economicdevelopment trend, and the sound development of national economy not only dependson the advancement of informatization process need more common role of thegovernment and the market economy, and a good economic environment and system background.