Institutional Investors and the Cost of Equity Capital: Evidence from Chinese Listed Companies

被引：0

作者：

Lyu Xuan ^{[1
]}

Zhang Bingshi ^{[1
]}

机构：

[1] Beijing Jiaotong Univ, Sch Econ & Management, Beijing 100044, Peoples R China

来源：

PROCEEDINGS OF INTERNATIONAL SYMPOSIUM - MANAGEMENT, INNOVATION & DEVELOPMENT (MID2014) | 2014年

关键词：

Institutional investors; The cost of equity capital; PEG model; EARNINGS; RETURN;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the relationship between institutional investors and the company's cost of equity capital. Especially considering the large proportion of state-owned shares in China's capital market; we divide the Chinese listed companies into state-owned shares and non-state-owned shares, and investigate the different effects of institutional investors on the company's cost of equity capital in two groups. This study confirms that with the increase of the proportion of institutional ownership, the company reduced the cost of equity capital; Relative to state-owned enterprises, institutional investors help to reduce much more cost of equity capital of non-state-owned enterprises.

引用

页码：566 / 571

页数：6

共 50 条

[31] The application of proxy methods for estimating the cost of equity for unlisted companies: evidence from listed firms
Sarmiento, Julio
Sadeghi, Mehdi
Sandoval, Juan S.
Cayon, Edgardo
[J]. REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2021, 57 (03) : 1009 - 1031
[32] Institutional investors as suppliers of equity-linked capital: Evidence from privately placed convertible debt
Marciukaityte, Dalia
Varma, Raj
[J]. JOURNAL OF BUSINESS RESEARCH, 2007, 60 (04) : 357 - 364
[33] Foreign institutional investors and stock price synchronicity of Chinese listed firms: further evidence
He, Tina T.
Li, Wilson X. B.
Tang, Gordon Y. N.
[J]. EURASIAN ECONOMIC REVIEW, 2019, 9 (01) : 107 - 120
[34] Foreign institutional investors and stock price synchronicity of Chinese listed firms: further evidence
Tina T. He
Wilson X. B. Li
Gordon Y. N. Tang
[J]. Eurasian Economic Review, 2019, 9 : 107 - 120
[35] CEO social capital, financing constraints and corporate financialisation: Evidence from Chinese listed companies
Chen, Yueyan
Shen, Baohua
Cao, Yawei
Wang, Shuyu
[J]. FINANCE RESEARCH LETTERS, 2024, 60
[36] THE EFFECT OF CASH FLOW ON THE CAPITAL STRUCTURE DYNAMIC ADJUSTMENT: EVIDENCE FROM CHINESE LISTED COMPANIES
Gan, Lining
Wei, Pengzhen
Wang, Junqiu
Zheng, Xiaosong
[J]. TRANSFORMATIONS IN BUSINESS & ECONOMICS, 2018, 17 (3C): : 453 - 468
[37] Is the Internal Capital Market Efficient?-Empirical Evidence from Chinese A-Shares Listed Companies
Zhang, Bin
[J]. PROCEEDINGS OF THE 2014 INTERNATIONAL CONFERENCE ON ECONOMIC MANAGEMENT AND TRADE COOPERATION, 2014, 107 : 312 - 317
[38] COST OF EQUITY CAPITAL IN PRIVATE COMPANIES
Britzelmaier, Bernd
Schlegel, Dennis
Vardanyan, Lilit
[J]. CONFRONTING CONTEMPORARY BUSINESS CHALLENGES THROUGH MANAGEMENT INNOVATION, 2013, : 460 - 486
[39] Influence of Institutional Investors on Listed Tourism Companies' Performance: An Empirical Case from China
Wang, Caiping
Xu, Honggang
Scott, Noel
Ding, Peiyi
[J]. JOURNAL OF CHINA TOURISM RESEARCH, 2014, 10 (03) : 257 - 274
[40] A Research on the Quality of Corporate Governance and M&A Performance of the Chinese Listed Companies Based on Institutional Investors
Du Dan
Gu Chen
Liang Dongsheng
Zhu Fangrui
[J]. PROCEEDINGS OF THE 7TH EURO-ASIA CONFERENCE ON ENVIRONMENT AND CSR: TECHNOLOGICAL INNOVATION AND MANAGEMENT SCIENCE SESSION, PT I, 2011, : 196 - +

← 1 2 3 4 5 →