文章基本信息

标题：Uncertainty, Incentive and Over/Under-Investment
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作者：Honghui Zhang
期刊名称：Open Journal of Business and Management
印刷版ISSN：2329-3284
电子版ISSN：2329-3292
出版年度：2017
卷号：05
期号：03
页码：450-457
DOI：10.4236/ojbm.2017.53038
语种：English
出版社：Scientific Research Publishing
摘要：This paper focuses on the impact of environmental uncertainty on investment efficiency, taking into account the effect of executive equity incentives on inefficient investments in opportunity investment set. Using the empirical data of listed companies, the study found that environmental uncertainty will increase investment efficiency and reduce over-investment level. Executive equity incentive will reduce the over-investment level and promote the lack of investment.
关键词：Environmental Uncertainty;Executive Equity;Investment Efficiency