Research on Excessive Investment with DEA Analysis for Chinese Listed Companies

Jing Long; Yan Xi Li

doi:10.4028/www.scientific.net/AMR.225-226.1208

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 225-226Research on Excessive Investment with DEA Analysis...

Research on Excessive Investment with DEA Analysis for Chinese Listed Companies

Abstract:

This paper measured level of corporate over-investment with DEA method. In this paper, the empirical research tested the excessive levels of investment in listed companies. Studies have been shown by investment-cash flow sensitivity and growth function in metrics when excessive levels of investment in listed companies in China. Tobin Q values are not objective enough in China's capital market, while DEA method can be more scientific measure of Chinese listed companies for the level of over-investment.

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Periodical:

Advanced Materials Research (Volumes 225-226)

Pages:

1208-1211

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.225-226.1208

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Online since:

April 2011

Authors:

Jing Long, Yan Xi Li

Keywords:

Cash Flow, DEA Method, Excessive Investment

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