Role of Corporate Governance to Restrict Tunneling Activities of Foreign Institutional Investors in the Pakistan Stock Market

被引：0

作者：

Ahmed, Tanvir ^{[1
,3
]}

Malik, Qaisar Ali ^{[1
]}

Butt, Babar Zaheer ^{[1
]}

Aksar, Muhammad ^{[2
]}

机构：

[1] Fdn Univ, Management Sci, Rawalpindi, Pakistan

[2] Capital Univ Sci & Technol, Management Sci, Rawalpindi, Pakistan

[3] Inst Space Technol, Near CDA Toll Plaza, Islamabad, Pakistan

来源：

INTERNATIONAL TRADE JOURNAL | 2023年 / 37卷 / 04期

关键词：

Tunneling; trading of foreign institutional investors; corporate governance; curvilinear (inverted U-shaped) relationship; EARNINGS MANAGEMENT; OWNERSHIP STRUCTURE; MODERATING ROLE; BEHAVIOR; FLOWS;

D O I：

10.1080/08853908.2022.2134947

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The research objective is to determine the curvilinear influence of trading of foreign institutional investors (FIIs) on the extent of tunneling, while corporate governance moderates this relationship. Data was gathered from 50 non-financial firms for 11 years (2009 to 2019) from the Securities and Exchange Commission of Pakistan. The generalized method of moments (GMM) was applied and results supported the objectives of this study. Involvement of FIIs may contribute to the enhancement of market discipline but may also create problems. Thus, policymakers require protecting the rights of minor shareholders against adverse influence.

引用

页码：389 / 400

页数：12

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