The Effect Of ERP System Implementations On The Investment Efficiency

With the development of economic globalization,enterprises pay more attention on the construction of the informatization.As one of the most important project of informatization construction project,enterprise resource planning(ERP) gradually gets the attention of ent ERPrises.In recent years, more and more enterprises begin to implement ERP system.After the implementation of ERP system,how the enterprise investment efficiency will be changed is a hot topic.Therefore, this paper studies the relationship between ERP systems and enterprise investment efficiency.The implementation of the ERP system can deal, optimize and real-time translate some business related information through the ERP process.So on the one hand, increased the transparency of enterprise and information transmission speed, reduce the blindness of the managers’ investment; On the other hand, reduces the shareholders measurement, costs control management behavior of supervision, which can further affect the agency costs of the enterprise investment decision-making and management,affect the efficiency of investment.However, in real cases still exist some problems may affect the successful implementation of ERP system,which requires management especially top management support and commitment. Starting from the ERP system implementation of the system can really play a role in general need two years or so.The results indicate that at the beginning of the ERP system implementation of that year, the investment efficiency of listed companies is falling.Secondly, after the ERP system implementation of 2 to 3 years,the listed companies significantly increase the investment efficiency.But the listed companies significantly decrease under-investment and insignificantly decrease over-investment.