Research On The Effect Of Inefficiency Investment On Value Creativity Of Listed Companies

In the field of finance,investment decision plays an important role in making financial decisions for enterprises.It not only affects the company's financing decisions,but also affects the company's dividend decisions.Every investment decision of a company will directly affect the future direction of the company's development.Therefore,inefficient investment will make the company deviate from the goal of maximizing the stockholder's rights and interests.Based on this,the paper mainly studies how inefficient investment affects the value and creativity of enterprises and the magnitude of their impact,so as to understand the importance of effective investment in enhancing value creativity.Non efficiency investment thesis and previous study emphasis,mainly from social concern Shanghai on inefficient investment of listed companies,the listed company focused on the application of its own capital investment activities are inefficient investment behavior,and build a model to verify the non efficiency investment behavior would adversely affect the value of creativity.The paper selects the related data of listed companies from 2013 to 2016.First of all,this paper makes a theoretical analysis of the inefficiency investment and the value creativity,and classifies and measures the value creativity and the inefficiency investment respectively.Based on the three theories,this paper analyzes the current situation in three aspects:the level difference of inefficient investment and value creativity,the industry difference and the regional difference.The paper refers to the expected investment model established by the scholars to carry out and measure the investment efficiency of the listed companies.Through this model,it is confirmed that there is a phenomenon of inefficient investment in domestic listed companies,and the influence of inefficient investment on value creativity is studied.It is confirmed that both underinvestment and overinvestment can have a negative impact on value creation.And the lack of investment in the value of creativity is less than the overinvestment.Through the above discussion,at the end of this paper,the investment environment and related enterprises in the construction of system,listedCorporate Events effectiveness put forward specific suggestions and countermeasures,for the optimization of enterprise investment decision-making behavior,in order to enhance the value of creativity.