Private benefits of control, growth options and inefficient investments
控制权私利、增长期权与非效率投资行为

This study is about the influence of growth options on inefficient investment and firm value under controlling shareholder settings.Results indicates that controlling shareholder makes under-investment decision which stray from maximum firm value aim but the growth options that firm owned produces alleviating effect to the under-investment because controlling shareholders like the sustainability of private benefits of control.Further more,the greater the growth factor and the more shares that the controllin...