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Government Intervention, Ownership Structure and Diversification

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Zhi-xiong Ling

    (Hunan University)

  • Zhu-yun Zheng

    (Hunan University)

Abstract

This paper examines the impacts of government intervention and ownership structure on the level of corporate diversification. Using the income data of Chinese listed companies between 2008 and 2010, we find that the diversification of listed companies is caused by the government internalizing its public objects such as employment and revenue into its local enterprises. We also find that the stake of the largest shareholder and diversification degrees are conversely relevant, and shareholders play a regulatory role for government intervention in corporate diversification only in the non-state-owned enterprises. These findings further support the institution-based view of business strategy.

Suggested Citation

  • Zhi-xiong Ling & Zhu-yun Zheng, 2013. "Government Intervention, Ownership Structure and Diversification," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 497-507, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-38442-4_53
    DOI: 10.1007/978-3-642-38442-4_53
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