Institutional investors' shareholding, corporate governance, and corporate innovation investment

被引：0
|
作者：
Zhang, Huaqing [1 ,2 ]
Zhang, Xiangjian [3 ]
Tan, Haoyu [4 ]
Tu, Yongqian [4 ]
机构：
[1] Huanggang Normal Univ, Sch Polit & Law, Huanggang 438000, Hubei, Peoples R China
[2] Wuhan Univ Technol, Sch Marxism, Wuhan 430070, Hubei, Peoples R China
[3] Shanghai Univ Finance & Econ, Inst Finance & Econ, Shanghai 200433, Peoples R China
[4] Renmin Univ China, Sch Lab & Human Resources, Beijing 100872, Peoples R China
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2024年 / 96卷
基金：
中国国家自然科学基金;
关键词：
Institutional investor shareholding; Corporate innovation investment; Corporate governance;
D O I：
10.1016/j.iref.2024.103643
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The objective of this study is to investigate the influence of institutional investors' shareholding on corporate innovation investment, as well as to assess how this influence varies across different settings. By employing theoretical analyses and empirical tests, we discover a significant impact of institutional investor shareholding on corporate innovation investment. Moreover, we evaluate the magnitude of this impact in relation to ownership structure, analyst attention, the degree of intellectual property protection, and industry classification. Furthermore, our findings indicate that corporate governance plays a beneficial role in moderating the relationship between institutional investors' shareholding and companies' investment in innovation.
引用
收藏
页数：10
相关论文
共 50 条
  • [21] Behind the Scenes: The Corporate Governance Preferences of Institutional Investors
    McCahery, Joseph A.
    Sautner, Zacharias
    Starks, Laura T.
    JOURNAL OF FINANCE, 2016, 71 (06): : 2905 - 2932
  • [22] INSTITUTIONAL INVESTORS, CORPORATE GOVERNANCE AND FIRM PERFORMANCE IN JAPAN
    Mizuno, Mitsuru
    PACIFIC ECONOMIC REVIEW, 2010, 15 (05) : 653 - 665
  • [23] The Challenges of Socially Responsible Investment Among Institutional Investors: Exploring the Links Between Corporate Pension Funds and Corporate Governance
    Albareda Vivo, Laura
    Balaguer Franch, Maria Rosario
    BUSINESS AND SOCIETY REVIEW, 2009, 114 (01) : 31 - 57
  • [24] CORPORATE GOVERNANCE AND INSTITUTIONAL INVESTORS: EVIDENCE FROM MALAYSIA
    Wahab, Effiezal Aswadi Abdul
    How, Janice
    Verhoeven, Peter
    ASIAN ACADEMY OF MANAGEMENT JOURNAL OF ACCOUNTING AND FINANCE, 2008, 4 (02): : 67 - 90
  • [25] Investors or Speculators: Institutional Investors' Role in Governance from Corporate Performance
    Tang, Songlian
    Wang, Lei
    EBM 2010: INTERNATIONAL CONFERENCE ON ENGINEERING AND BUSINESS MANAGEMENT, VOLS 1-8, 2010, : 4009 - +
  • [26] Do institutional investors facilitate corporate environmental innovation?
    Xu, Jia
    Zeng, Shu
    Qi, Shaozhou
    Cui, Jingbo
    ENERGY ECONOMICS, 2023, 117
  • [27] Fund shareholding and corporate inefficiency investment
    Li, Xiao
    Liu, Gang
    APPLIED ECONOMICS LETTERS, 2023, 30 (13) : 1754 - 1762
  • [28] ANALYSIS OF THE ROLE OF INSTITUTIONAL INVESTORS IN THE IMPLEMENTATION OF THE CORPORATE GOVERNANCE IN CROATIA
    Calopa, Marina Klacmer
    Horvat, Jelena
    Sonjaric, Martina
    ECONOMIC AND SOCIAL DEVELOPMENT: 9TH INTERNATIONAL SCIENTIFIC CONFERENCE, 2015, : 451 - 461
  • [29] Beyond Ownership: The Role of Institutional Investors in International Corporate Governance
    Drobetz, Wolfgang
    El Ghoul, Sadok
    Guedhami, Omrane
    Yu, Xinya
    CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2025,
  • [30] Corporate Sustainable Development from the Perspective of the Effect of Institutional Investors' Shareholding on Earnings Management
    Zhao, Shuo
    Zhao, Yang
    SUSTAINABILITY, 2023, 15 (02)
12345