Corporate governance mechanism has a positive effect on improving enterprise investment decisions. The establishment of growth enterprise market (GEM) provides empirical evidence for the research on investment efficiency of SMEs and the improvement of relevant governance mechanism. The free cash flow is closely related to corporate investment behavior. A benign internal governance structure can significantly restrain over-investment; however, it has limited effect on relieving under-investment. The external governance environment can effectively improve corporate investment decision-making.
CITATION STYLE
Ma, S., & Wang, R. (2014). Research on GEM companies’ investment behaviors and governance factors’ incentive and constraint effects. In Advances in Intelligent Systems and Computing (Vol. 281, pp. 1339–1350). Springer Verlag. https://doi.org/10.1007/978-3-642-55122-2_115
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