| Issue |
E3S Web Conf.
Volume 292, 2021
2021 2nd International Conference on New Energy Technology and Industrial Development (NETID 2021)
|
|
|---|---|---|
| Article Number | 02005 | |
| Number of page(s) | 5 | |
| Section | New Energy Economy and Energy Blockchain Application | |
| DOI | https://doi.org/10.1051/e3sconf/202129202005 | |
| Published online | 09 September 2021 | |
Government Intervention, Nature of Ownership and Enterprise Investment Efficiency——An Empirical Research Based on Panel Data Analysis
Beijing Jiaotong University, School of Economics and Management, 100044, Beijing, China
* Menghao Lin: 347294896@qq.com
In the critical stage of economic transformation and upgrading, the government has a strong incentive to intervene in the investment behaviour of enterprises under the double assessment of political and economic indicators. This paper found that government intervention has a significant impact on enterprise investment, by providing financial support and other means to promote enterprises to expand investment, but due to the lack of effective guidance, it turns into over-investment. After further distinguishing the nature of ownership between state-owned enterprises and non-state-owned enterprises, the phenomenon that government intervention affects enterprise investment is more obvious in state-owned enterprises, which is reflected in promoting over-investment and restraining under-investment. Therefore, government intervention will affect the investment efficiency of state-owned enterprises to a greater extent and make them develop in the direction of over-investment. This paper provides an overall perspective to explore the impact of government intervention on enterprise investment behaviour under the rapid economic growth.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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