过度投资

去年曾警告过过度投资风险的中国社科院（ChineseAcademyofSocialSciences）经济学家于永定表示，当前的形势要可控得多。

Yu Yongding , an economist at the Chinese Academy of Social Sciences who warned last year about the risks of over-investment , says that the current situation is much more manageable .

自Jensen（1986）提出自由现金流假说以来，企业的过度投资引起了学者的广泛关注。

Since the introduction of Free Cash Flow hypothesis by Jensen ( 1986 ), over-investment has attracted wide attention from scholars .

如果中国打算在未来提高GDP中消费支出的比重，就必须接受GDP中企业利润的比重下滑，这也符合当前过度投资亟需回落的情况。

China will have to accept a much lower business-profit share of GDP if consumer spending is to raise its share in future – and this will correspond to the needed fall-back of currently excessive investment .

根据Jensen（1986）的自由现金流量假说，负债和股利可以成为抑制过度投资的治理机制。

According to the Jensen ( 1986 )' s hypothesis of free cashflow , debt and dividend could be to curb over investment .

首先，本文借鉴Richardson（2006）的投资预测模型，估计出企业的最优投资水平，进而得到过度投资与自由现金流的规模。

First , based on the investment prediction model ( Richardson , 2006 ), the thesis estimates the optimal level of companies ' investment , and get the scale of over-investment and free cash flow .

投资者保护水平越高的地区，上市公司的过度投资程度越低，投资者保护水平与L市公司的过度投资负相关。

The higher level region of investor protection have a lower level of over-investment . The level of investor protection have an negative correlation with over-investment in listed companies .

公司代理人投资行为的典型扭曲是过度投资，BS隐藏信息下代理人投资行为的一般化结论，Nyman证明是依赖于限制性信息假设，因而不具有普适性。

The typical distortion of corporate agent investment behavior is over-investment . Nyman demonstrates that the BS characterization of agent investment behavior with hidden information hinges on a restrictive informational assumption and therefore is not generally applicable .

对公用事业间接管制定价的资本收益率定价法、上限管制定价法及其利弊进行了分析，研究表明，资本收益率定价法交易成本高，并可能产生A-J效应，形成过度投资；

The author analyses the advantages and disadvantages of common indirect regulation pricing methods of public utility goods . It is pointed out that it results in high trade-cost and A-J effect binging in an excess of investment when capital yield method be used .

接着用此理论对高校过度投资进行定性分析。

Then it uses this theory to carry on qualitative analysis .

基础设施与房地产的过度投资很快变得显而易见。

The excesses of infrastructure and property investment were soon apparent .

过度投资是现今财务管理研究的热点问题。

Over-investment is the hot spots of the financial management research .

但它确实暴露了裙带人士过度投资的问题。

But it did show the problems with overinvestment by cronies .

电源过度投资的博弈分析

Analysis of over-investment in generation capacity based on game theory

经理私人利益与过度投资

A Study on the Relationship between Manager 's Private Benefits and Over-investment

上市公司过度投资与负债控制效应研究

Study on Overinvestment and Debt Control Effects of Listed Company

会计信息质量与过度投资的关系研究

Research on the Relation between Accounting Information Quality and Over-investment

我国上市公司大股东过度投资行为研究

Study on Over-investment of Large Shareholders in China Listed Company

上市公司过度投资行为制约机制实证研究

Research on the Restrict Mechanism for Over-investment in the Corporations

而如今，对工业的过度投资是一个负面因素。

Now , the over - investment in industry is a negative .

我国制造业上市公司过度投资与公司治理机制的研究

Research on Over-investment Behavior and Corporate Governance of Chinese Listed Manufacturing Companies

同时，过度投资导致了城市旅游业的低效率。

Meanwhile , the over-investment leads to low efficiency of urban tourism .

本文的关键词为政府干预、过度投资。

The keywords of this paper are government intervention and excessive investments .

接着，本文进一步探索了过度投资的影响因素。

Then we further study the Influencing factors of over-investment .

在公开和私募市场上，对网络安全公司过度投资的现象都可以用泛滥一词来形容。

Overinvestment has been rampant in both the public and private markets .

关于企业过度投资行为产生的原因，代理理论是经典理论之一。

One of the classic interpretations which cause over-investment behavior is agency theory .

基于债务约束的自由现金流过度投资问题研究

Research on the Excessive Investment of Free Cash Flow Based on Debt Constraints

繁荣导致过度投资、鲁莽的冒险行为和过度负债。

The booms lead to overinvestment , reckless risk-taking and too much debt .

企业对资产负债状况进行了重新整理，金融危机前的过度投资被逐一清理。

Corporate balance sheets have been re-built and pre-crisis excess investment worked off .

而长期负债和银行借款都导致了企业的过度投资行为。

Long-term debt and bank debt result in excessive investment behavior in samples .

研究结果表明，我国存在着严重的过度投资行为。

The results show that there are serious over investment behaviors in China .