Abstract
The paper researches whether the product competitive market has impact on companies’ investment efficiency, using the non-financial A-Stock listed companies in China from 2004 to 2009 as the sample. The paper finds the following evidence: the fiercer product competitive market is, the more effective impact on controlling the over-investment impulse. The conclusion provides new ideas to the development of external governance mechanism and the securities supervisory institutions.
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© 2012 Springer-Verlag GmbH Berlin Heidelberg
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Jian, J., Zhao, S. (2012). Product Competitive Market and Investment Efficiency. In: Tan, H. (eds) Technology for Education and Learning. Advances in Intelligent Systems and Computing, vol 136. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-27711-5_3
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DOI: https://doi.org/10.1007/978-3-642-27711-5_3
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-27710-8
Online ISBN: 978-3-642-27711-5
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