Sou Hu Cai Jing·2025-12-15 03:51Group 1 - The article discusses the construction of the Richardson model for measuring investment efficiency in publicly listed companies in China, focusing on two indicators: inefficient investment levels and underinvestment [1] - The model estimates a company's normal investment level and uses the residuals to measure inefficient investment, widely used in research on A-share listed companies [1] - The dataset includes 39,000 samples from over 4,500 companies, providing original data, calculation codes, and final results for verification [1] Group 2 - The data is claimed to be meticulously organized and 100% accurate, differentiating it from other interpolated or fabricated datasets [2] - The 2024 data has been updated, emphasizing the reliability and authenticity of the information provided by professional researchers [2] Group 3 - The table presents investment efficiency metrics for specific companies, including Shenzhen Energy and Guoyao Yizhi, with values for overinvestment and underinvestment across multiple years [4] - For example, Shenzhen Energy's investment efficiency increased from 0.005468 in 2021 to 0.0331735 in 2023, indicating a significant rise in investment efficiency [4] - Guoyao Yizhi shows fluctuations in investment efficiency, with a notable increase to 0.0661168 in 2020, followed by a decrease in subsequent years [4]