Equity Checks and Balances,Overinvestment and Corporate Performance
Investment behavior,as the basic link of corporate financial decision-making,is an important way for enterprises to complete the established goals.However,in the current market environment,due to the problems of proxy conflict and inappropriate information,the phenomenon of excessive investment is common,which not only affects the long-term interests of enterprises,but also affects the smooth operation of the macro economy.The study of equity checks and balances and excessive investment is helpful for enterprises to rationalize investment and make a overall development.This paper selects the data of Shanghai and Shenzhen A-share listed companies from 2012 to 2017,and analyzes the mechanism of equity checks and balances,excessive investment and corporate performance.The results show that equity checks and balances can effectively improve the level of corporate performance,and equity checks and balances can reduce the level of excessive investment to improve corporate performance.Finally,this paper puts forward the enlightenment of reducing excessive investment and using equity checks and balances to improve corporate performance.
equity checks and balancesoverinvestmentcorporate performance
万方数据
维普
