The Study about Enterprise Managerial Innovation based on software STATA

The concept of financial excesses has emerged as companies hoard cash and reduce interest-bearing debt, which is more obvious under the time of change. Although the financial-excesses enterprises have occupied the mainstream position in the capital market, there is no mature methods to guide them. In order to explore the management innovation of these enterprises, this paper divides the Chinese listed firms into two categories: financial excesses and financial embarrassment. Otherwise, this paper selected data from CSMAR data base, and calculated the capital expenditure and investment efficiency of these two categories using STATA 16.0. Then, we compare the differences in these two categories, and give an overall description. The expected analysis results can directly show the possible direction of the capital expenditure of the financial- excesses enterprise, which provides a reference for shareholders to achieve the purpose of enterprise management innovation.