Besides, it shows that, (1) leave unused capital seems to have some effects on productive investment and financial investment, but the magnitudes and the directions of the effects are still vague; (2) the investment opportunities have some effects on the

研究还发现：(1)闲置资金对生产性投资和金融性投资似乎存在一定的作用，但这种作用的大小和作用的方向并不明朗；(2)投资机会对我国上市公司投资有一定影响；(3)我国上市公司存在着微弱的融资约束；(4)相对于金融性投资领域，过度投资和投资不足现象在生产性投资领域更为严重。