Government Intervention,Compensation Incentive and Over-investment Behavior

Based on the government intervention and compensation incentive,this paper analyses the interactive influences between government intervention and compensation incentive on over-investment.It is found that the government intervention has a negative impact on over-investment,and the negative impact even more on that of state-owned listed companies.It is also found that compensation incentive has an effective governance effect on over-investment to some extent.And this governance effect is more obvious on non-state-owned listed companies where the compensation incentive is even efficient.