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企业过度投资问题(over investment)是公司金融学术界比较关注的一个研究领域。本文梳理了企业过度投资行为的研究文献,包括理论、形成机理和衡量企业过度投资水平的两种实证研究方法,指出了现有研究中普遍存在的问题和不足,提出了未来研究方向。
Corporate over-investment is an area of concern for corporate finance academia. This paper reviews the research literature on overinvestment behavior of enterprises, including the theory, formation mechanism and two empirical research methods to measure the level of overinvestment. It points out the problems and deficiencies existing in the existing research and puts forward the research directions in the future.