基于我国央企控股上市公司的经验证据EVA评价公司治理与企业过度投资

摘要：企业的投资行为和投资效率一直是各国学者关注的焦点。2010年，随着国资委开始在央企全面推行经济增加值（EVA）作为企业业绩评价指标,EVA业绩评价与央企过度投资行为的相关关系研究成为了一个新的研究方向。但目前国内关于此方向的研究还较少。在此基础上，本文选择我国央企控股上市公司的相关数据，实证检验EVA业绩评价对央企控股上市公司过度投资行为的影响以及在不同公司治理条件下，EVA业绩评价对央企控股上市公司过度投资情况的影响变化。研究结果显示，EVA业绩评价的施行可以有效地遏制央企过度投资行为。同时，公司治理情况越好，EVA业绩评价对央企过度投资的抑制效果越好。25712
毕业论文关键词：过度投资；EVA；公司治理；央企
EVA Evaluation 、Corporate Governance and Over-investment:
Based on State-owned Key Enterprises
Abstract：Business investment behavior and investment efficiency has always been the focus of scholars. In 2010, with the SASAC beginning to fully implement the economic value added (EVA) as the enterprise performance evaluation index in the state-owned key enterprise, the research on the effect of the EVA performance on the over-investment of the state-owned key enterprise has become a new research direction. However, the research on this direction is still relatively rare in China. Based on this, this paper chooses relative financial figures and audit figures of the listed companies in China's state-owned key enterprises to study the impact of the EVA performance on the over-investment behavior of the state-owned key enterprise, as well as the relationship between the EVA performance evaluation, corporate governance and excessive investment. The empirical results show that, the implementation of EVA performance evaluation can effectively reduce the excessive investment behavior of state-owned key enterprise. At the same time, the better the corporate governance, the better the effectiveness of EVA performance in the suppression of over-investment by state-owned key enterprises.
Key words: Over-investment；EVA；Corporate Governance；State-owned Key Enterprises
目录
摘要    1
关键词    1
Abstract    1
Key words    1
一、引言    1
二、文献综述    2
（一）国外文献综述    2
1、EVA绩效评价指标相关研究    2
2、过度投资产生原因研究    2
3、过度投资行为的影响因素研究    3
（二）国内文献综述    3
1、EVA绩效评价指标相关研究    3
2、过度投资的成因探究    3
3、过度投资行为影响因素研究    4
4、EVA绩效评价与央企过度投资行为研究    4
三、理论分析与研究假设    4
四、研究设计    5
（一）样本选择和数据来源    5
（二）模型设计和变量定义    5
1、过度投资水平的衡量模型    5
2、EVA业绩评价与过度投资关系模型    6
3、EVA业绩评价、公司治理与过度投资关系模型    6
4、变量定义    7
五、实证检验结果与分析    7
（一）描述性统计    7
（二）变量间相关性检验    8
（三）多元回归分析    9
优尔、研究结论    10
致谢    10
参考文献    10
EVA评价、公司治理与企业过度投资基于我国央企控股上市公司的经验证据基于我国央企控股上市公司的经验证据EVA评价公司治理与企业过度投资:http://www.youerw.com/kuaiji/lunwen_19617.html