| Abstract | 第1-6页 |
| 论文摘要 | 第6-15页 |
| 1. Introduction | 第15-17页 |
| ·Problem statement | 第15-16页 |
| ·Thesis structure | 第16-17页 |
| 2. Literature Review | 第17-21页 |
| ·Critical theories and previous research | 第17-19页 |
| ·Specific issues in China | 第19-21页 |
| 3. Background introduction | 第21-28页 |
| ·Investment situation in China | 第21-24页 |
| ·Actual controller and investment behavior | 第24-26页 |
| ·Split-share structure of Chinese listed companies | 第26-28页 |
| ·Split-Share Structure Reform | 第28页 |
| 4. Overinvestment of Chinese listed companies | 第28-33页 |
| ·Impact of share structure on firm level investment behavior | 第28-30页 |
| ·Impact of Split-Share Structure Reform | 第30-33页 |
| 5. Methodology | 第33-39页 |
| ·Expected investment model | 第34-36页 |
| ·Free cash flow, overinvestment and Split-Share Structure Reform | 第36-39页 |
| 6. Data and Sample Selection | 第39页 |
| 7. Results | 第39-56页 |
| ·Analysis of investment expenditure | 第39-44页 |
| ·Overinvestment, free cash flow and Split-Share Structure Reform | 第44-50页 |
| ·Robustness tests | 第50-56页 |
| ·Alternative measures about growth opportunities | 第51-52页 |
| ·Variable construction problem | 第52-54页 |
| ·Alternative regression method | 第54-55页 |
| ·Sample selection | 第55-56页 |
| 8. Conclusion | 第56-58页 |
| Reference | 第58-63页 |
| Acknowledgements | 第63-64页 |
