An Empirical Analysis Of Factors Influencing Over-investment Of Corporate Over-investment: Take Chinese Listed Real Estate Companies As Example

billion since financial crisis. It is based on the initial aim that improving the efficiency of investment and advancing economical development. But there are several industries show the phenomena of over-investment, production capacity surplus and price bubble. It may be helpful to reduce the wasting of fortune, improve the rationality of funding allocation by studying the establishing process of over-investment, the influence of inner and outer environment to investment activity. I might also be good to establish the foundation to healthy, regular and continual economy.It has been a long time since starting to study the over-investment, but the reason of it is still contradictive. The main idea from western considers it as asymmetry information deputy. It is proved that they are relative but several other aspects can not be told completely. The new coming behavioral finance has provided the new study method, but it still has its limiting problems and needs further study. In this essay, we try to combining the theory and reality of China and prefer to study starting from investment decision maker's decision making process and constraining to the decision making.In this essay, we use traditional company economic and modern behavioral financial theory to analysis over-investment. Comprehensively study the influence factors and results comparing. We take real estate as an example to calculate the violence and sensitivity of every factor by using real data. Then we can provide feasible plans to further analysis and deep delving to relative studies.The structure of the essay is below:Introduction: the research methods,study background and train of thought to this essay.Part 1: theoretical introduction of the corporation over-investment. Typical corporation economical and modern behavioral economical are main trails to over-investment theoretical analysis and demonstrating searching.Part 2: In this part, we overviewed a few factors of production capacity surplus, bubble price, aimless following and fluke minds of these investment makers. It would finally lead bad influence to the development of whole region or even the whole industry.Part 3: In this part, we established a multiple linear regression. It filters, solves and analysis the data based on listed companies. It is valuable to the demonstrating results.Part 4: In this part, we provided several recommendations on limiting over-investment.Innovative points:1. We use behavioral theory to analysis the domestic corporation data.2. We combined traditional corporation economic theory and behavioral economic theory to the domestic over-investment analysis.