| ABSTRACT | 第1-5页 |
| 摘要 | 第5-16页 |
| 1. Introduction | 第16-19页 |
| 2. Literature review | 第19-29页 |
| ·Literature about ultimate controlling shareholder | 第19-21页 |
| ·Literature about tunneling theory | 第21-24页 |
| ·Literature about over-investment | 第24-26页 |
| ·Literature about the relationship between ownership and over-investment | 第26-27页 |
| ·Literature about corporate governance | 第27-29页 |
| 3. Research hypotheses | 第29-32页 |
| 4. Data and methodology | 第32-40页 |
| ·sample selection | 第32-33页 |
| ·Methodology | 第33-35页 |
| ·Model 1 | 第33-34页 |
| Overinvestment measurement model | 第33-34页 |
| ·Model2 | 第34-35页 |
| Ownership structure,Governance and Overinvestment | 第34-35页 |
| ·Variables description | 第35-40页 |
| ·Dependent variables | 第36-37页 |
| ·Independent variables | 第37-39页 |
| ·Control variables | 第39-40页 |
| 5. Research result | 第40-56页 |
| ·Measurement of overinvestment | 第40-44页 |
| ·Analysis of ove rinvestment | 第44-56页 |
| ·Analysis the nature of ultimate controller and overinvestment | 第45-48页 |
| ·Ownership structure,Governance and Overinvestment | 第48-54页 |
| ·Robustness test | 第54-56页 |
| 6. Conclusion and suggestions | 第56-60页 |
| ·Conclusion | 第56-58页 |
| ·suggestions | 第58-60页 |
| Reference | 第60-65页 |
| Acknowledgement | 第65-66页 |
