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Appel, Ian - 2016

Passive institutional investors are an increasingly important component of U.S. stock ownership. To examine whether and by which mechanisms passive investors influence firms' governance, we exploit variation in ownership by passive mutual funds associated with stock assignments to the Russell...

Persistent link: https://www.econbiz.de/10013006107

Identification Using Russell 1000/2000 Index Assignments : A Discussion of Methodologies

Appel, Ian - 2020

This paper discusses empirical methods that rely on Russell 1000/2000 index assignments for identification. Using simulated data, the paper illustrates why the varying approaches reach conflicting conclusions about the effect of index assignment on a firm's ownership structure and corporate...

Persistent link: https://www.econbiz.de/10012856097

The Big Three and Board Gender Diversity : The Effectiveness of Shareholder Voice

Gormley, Todd A.; Gupta, Vishal K.; Matsa, David A.; … - 2021

In 2017, “The Big Three” institutional investors launched campaigns to increase gender diversity on corporate boards. We estimate that their campaigns led firms to add at least 2.5 times as many female directors in 2019 as they had in 2016, accounting for most of the increase in board gender...

Persistent link: https://www.econbiz.de/10013246622

Political Connections and Dividends Payout in Malaysia : The Influence of Institutional Investors

Benjamin, Samuel - 2015

This study examines the agency problem of expropriation using dividends in politically connected firms and the relevance of institutional investors in limiting this problem. Our results suggest that politically connected firms (PCON) have a preference to pay lower dividends whereas institutional...

Persistent link: https://www.econbiz.de/10013029202

Does Mutual Fund Ownership Affect Financial Reporting Quality for Chinese Privately-Owned Enterprises?

Chan, Ann Ling‐Ching - 2014

This paper examines the role of mutual funds in enhancing financial reporting quality in China. Mutual funds are more …

Persistent link: https://www.econbiz.de/10013063942

Do foreign institutional investors drive corporate social responsibility? Evidence from listed firms in China

Li, Zhe; Wang, Ping; Wu, Tianlong - 2021

responsibility (CSR) within the context of listed firms in China. We find that QFIIs offer an incisive channel for improving socially …

Persistent link: https://www.econbiz.de/10013322151

Can Mutual Funds Pick Stocks in China? Evidence from the IPO Market

Johansson, Anders C.; Feng, Xunan - Stockholm China Economic Research Institute, … - 2014

This study examines the stock-picking ability of mutual funds in China using evidence from the IPO market. We …

Persistent link: https://www.econbiz.de/10010945079

Smart money or dumb money? A study on the selection ability of mutual fund investors in China

Feng, Xunan; Zhou, Mingshan; Chan, Kam C. - In: The North American Journal of Economics and Finance 30 (2014) C, pp. 154-170

We examine investors’ mutual fund selection ability in China. Using actively managed equity mutual funds between 2005 … significantly. The findings are robust to several risk-adjusted performance measures. The unique data of China provide separate …, especially for the protection of individual investors regarding mutual fund investing in China. In addition, we show that it is …

Persistent link: https://www.econbiz.de/10011117738

Shareholder Litigation and Ownership Structure : Evidence from a Natural Experiment

Crane, Alan D. - 2016

We use a natural experiment to identify a causal effect of the threat of shareholder litigation on ownership structure …

Persistent link: https://www.econbiz.de/10013006813

The Impact of Mutual Fund Ownership on Corporate Investment : Evidence from a Natural Experiment

Kisin, Roni - 2011

Mutual fund holdings data reveal a significant impact of mutual funds on the capital expenditures ("CapEx'') of their portfolio companies. Following the shock to mutual fund ownership caused by the 2003 scandal, during which 25 fund families experienced significant outflows of capital, firms...

Persistent link: https://www.econbiz.de/10013125864