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战略新兴产业的发展对经济社会全局和长远发展具有重大的引领带动作用,在2010年发布的《国务院关于加快培育和发展战略性新兴产业的决定》中,政府颁布实施了一系列惠及战略新兴产业的政策。本文从投资效率的角度出发,使用ROA方法测算投资效率,研究战略新兴产业上市公司在政策发布后的投资效率情况,结果发现战略新兴产业上市公司中非效率投资的比例得到一定的降低,从具体的表现形式上看,投资不足和过度投资的比例均得到降低。
The development of strategic emerging industries has a leading role in driving overall and long-term economic and social development. In the “Decision of the State Council on Accelerating the Cultivation and Development of Strategic Emerging Industries” promulgated in 2010, the government promulgated and implemented a series of policies to benefit strategic emerging industries Policy. In this paper, from the perspective of investment efficiency, using the ROA method to measure the investment efficiency, the paper studies the investment efficiency of listed companies in strategic emerging industries after the policy is released, and finds that the proportion of inefficient investment in listed companies in strategic emerging industries is reduced to a certain extent. In terms of manifestations, both underinvestment and overinvestment have been reduced.