文章以我国上市公司1999-2012年的数据为样本,研究了我国企业当年新增投资是否会受到同地区不同行业企业平均新增投资的影响,并重点分析了地方政府干预是否会增强上述的企业投资同伴效应。研究发现,同地区不同行业企业间投资的同伴效应是存在的,即企业当年新增投资会随同地区不同行业企业平均新增投资的增加而增加;同时,在地方政府干预较强的地区,在省委书记离任前三年,在每个“五年计划”的最后两年,上述同伴效应更加显著。文章为地方政府干预影响所在地区企业投资的研究提供了新的证据。 Taking the data of listed companies in China from 1999 to 2012 as a sample, this paper studies whether the newly increased investment of Chinese enterprises in the current year will be affected by the average newly increased investment of enterprises in different industries in the same region, and emphatically analyzes whether the intervention of local governments will enhance the above-mentioned enterprises Investment companion effect. The study finds that there is a companion effect on the investment among enterprises in different industries in the same region. That is, the new investment in the same year increases with the increase of average newly increased investment by enterprises in different industries in the same area. In the same time, in areas with strong local government intervention, In the last two years of each “five-year plan”, the above-mentioned peer effect was even more pronounced in the three years before the party secretary left office. The article provides new evidence for the intervention of local governments in the study of business investment affecting the region.