Aggarwal, Reena; Erel, Isil; Ferreira, Miguel; Matos, Pedro - In: Journal of Financial Economics 100 (2011) 1, pp. 154-181
We examine whether institutional investors affect corporate governance by analyzing portfolio holdings of institutions in companies from 23 countries during the period 2003-2008. We find that firm-level governance is positively associated with international institutional investment. Changes in...