【作者】 赵惠芳； 贾德红； 潘立生；

【Author】 Zhao Huifang Jia Dehong Pan Lisheng

【机构】 合肥工业大学管理学院；

【摘要】 本文采用理论分析与实证检验相结合的方法分析了经理管理防御视角下企业的非效率投资问题。研究结果表明:安徽省上市公司投资不足现象普遍存在;经理管理防御行为不仅存在,而且日趋严重;经理管理防御与非效率投资显著正相关;影响经理管理防御程度的经理人年龄、职业经历、任期和预期转换工作成本与非投资效率存在显著的相关性。最后对如何抑制经理管理防御,提高投资效率提出了几点建议。更多还原

【Abstract】 This paper used the method of the theoretical analysis and the empirical test unified to analyze the inefficient investment under the view of managerial entrenchment. The results are as follow:The underinvestment is prevailing in listed companies of Anhui province. Managerial entrenchment not only exists, moreover serious day by day. The managerial entrenchment and inefficient investment positively correlate. The manager’s age, experience, tenure and relocation cost is remarkable relevance with inefficient investment. In the end,it proposed the suggestion of suppressing the managerial entrenchment and improving the investment efficiency.更多还原