Abstract Based on the 2004-2010 Shenzhen,Shanghai listed a-share companies,by building decision model of capital investment efficiency about internal capital market enterprise and no internal capital market enterprise,the paper indirect compare the capital investment efficiency of internal capital market.In addition,through the introduction of enterprise ownership property,the paper also studied capital investment efficiency of internal capital market operation under different ownership property.Empirical study results show that the internal capital market companies have relatively higher capital investment efficiency than no internal capital market enterprise.The state-owned enterprises in the internal capital market relative have higher capital investment efficiency than the private enterprises.Central state-owned enterprise and local state-owned enterprises is no significant difference in capital investment efficiency.
2015, Vol. 32 
