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委托代理问题对投资效率有重大影响,国有企业因为双重目标的存在,有过度投资倾向,而非国有企业一般表现为投资不足,但在一定情况下,也可表现为过度投资。
The problem of entrusted agency has a significant impact on the efficiency of investment. SOEs tend to over-invest because of their dual objectives. Non-state-owned enterprises tend to under-invest, but in some cases, they can also be over-invested.