Analysis On The Influencing Factors Of The Profitability Of Listed Companies In Information Technology Industry

In recent years,the new generation of information technology represented by big data,cloud computing,artificial intelligence and virtual reality has gradually become the engine of world economic development.In China,information technology has increasingly become a key force in implementing the strategy of innovation-driven development and advancing supply-side structural reforms.In the "12th Five-Year" period,the development of China's information industry has made remarkable achievements,but at the same time,the core basic ability of the information industry in China is still weak.Compared with the developed countries,the inverted triangle industrial structure of "strong application,weak technology,thick market and thin profit" is presented.According to the information industry development guidelines issued by the Ministry of Industry and Information Technology and the National Development and Reform Commission,by 2020,the income of the information industry will increase from 17.1 trillion yuan in 2015 to 26.2 trillion yuan.The huge development prospects of the information technology industry are expected.In the stock market,it has gradually become one of the hot spots sought after by investors.However,with the rapid development of the information technology industry,the number of listed companies has increased year by year.In the face of an ever-increasing amount of financial information,how can we judge its profitability and how to choose the investment direction?Therefore,a systematic,accurate and comprehensive analysis of the factors that influence the profitability of listed companies in the information technology industry is the purpose of this paper.First,this article gives an overview of the development characteristics of the information technology industry;then,it defines the concept of profitability,and sorts out commonly used indicators for profitability analysis,and then from the perspective of the industry as a whole and sub-sectors.From 2012 to 2016,using statistical methods such as cluster analysis,factor analysis,variance analysis,and multiple comparisons,the company analyzes the profitability of listed companies in the information technology industry.Finally,starting from the two levels of financial and non-financial factors,based on the profit characteristics of listed companies in the information technology industry,the factors influencing profitability were identified,and the relevant indicator data was combed and searched according to the principle of index selection in this paper.Then,a structural equation model was used for empirical analysis.Through the study,it is found that the overall profitability of the listed companies in the information technology industry is still good,and there is still a great potential for development.The information technology service enterprises have higher profitability than the manufacturing enterprises.Ownership structure and operation capacity have a positive impact on the profitability of Listed Companies in the information technology industry,while capital structure has a negative impact on them.Finally,this paper gives some suggestions to improve the profitability of the listed companies in the information technology industry: to improve the operating capacity,to optimize the capital structure,to standardize the governance structure,to accelerate the independent innovation of the enterprises and to promote the industrial integration.