企业过度投资理论研究综述

文中从过度投资的概念出发,分析了过度投资在不同市场形式下国内外的概念论述。在此基础上从国外和国内两个方面对上市公司的过度投资进行了分析,目前研究主要从股权融资偏好,控股股东的非绩效投资,管理层持股与股权激励,委托代理理论,自由现金流与融资约束等与过度投资的关系分析进行研究。

Theory on Corporate Over-investment

From the excessive investment concept, it analyze the excessive investment in different market form, the concept discussion at home and abroad. On this basis, from two aspects of foreign and domestic listed companies on the excessive investment are analyzed. The present study mainly from the equity financing preference of the controlling shareholders of non performance, investment, management share holders and the equity incentive, principal-agent theory, free cash flow and financing constraints and excessive investment relationship are analyzed.