Bai, Yajie; He, Leilei; Tiegang, Zhang - In: Borsa Istanbul Review 23 (2023) 5, pp. 1067-1077
2395 listed companies in China from 2007 to 2020, we examine the investment efficiency of this ownership practice on … microcorporate investment behavior. The estimates indicate that common institutional ownership has a significant positive … relationship with corporate investment efficiency by reducing overinvestment. Further institutional heterogeneity analysis reveals …