Effect of Equity Incentive on Inefficient Investment in Chinese State-owned Enterprises

Liu Yan

International Journal of Economics and Finance, 2016, vol. 8, issue 8, 222

Abstract: This study examines the impact of equity incentive on inefficient investment based on the sample of Chinese listed companies of Shanghai stock market. I show that- both of over-investment and under-investment are existed among state-owned enterprises, the level of under-investment is worse than the level of over-investment, equity incentive is not that popular among state-owned enterprises; equity incentive can limit over-investment as well as under-investment significantly, so universality of equity incentive among state-owned enterprises needs to be improved.

Date: 2016
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