Proceedings of the 2019 5th International Conference on Humanities and Social Science Research (ICHSSR 2019)

Investor Sentiment, Government Control and Corporate Investment Efficiency

Authors
Xiaoxi Chen, Lili Zhang, Yingming Wang
Corresponding Author
Xiaoxi Chen
Available Online May 2019.
DOI
10.2991/ichssr-19.2019.128How to use a DOI?
Keywords
Investor sentiment, Government control, Investment efficiency.
Abstract

Based on the underlying assumptions of investors' bounded rationality, this paper analyzes the impact of investor sentiment on corporate investment efficiency from the enterprise level; and it studies whether the different degrees of government control can influence the impact process. Research shows that investor sentiment is relatively related to corporate overinvestment and relatively insignificant in relation to underinvestment; compared with state-owned enterprises, the investment efficiency of non-state-owned enterprises is more significantly affected by investor sentiment. The above research results provide a useful perspective for a better understanding the influence of investor sentiment on corporate investment efficiency and a better understanding of the institutional specificity of China's capital market.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2019 5th International Conference on Humanities and Social Science Research (ICHSSR 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
May 2019
ISBN
978-94-6252-730-0
ISSN
2352-5398
DOI
10.2991/ichssr-19.2019.128How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Xiaoxi Chen
AU  - Lili Zhang
AU  - Yingming Wang
PY  - 2019/05
DA  - 2019/05
TI  - Investor Sentiment, Government Control and Corporate Investment Efficiency
BT  - Proceedings of the 2019 5th International Conference on Humanities and Social Science Research (ICHSSR 2019)
PB  - Atlantis Press
SP  - 660
EP  - 663
SN  - 2352-5398
UR  - https://doi.org/10.2991/ichssr-19.2019.128
DO  - 10.2991/ichssr-19.2019.128
ID  - Chen2019/05
ER  -