Do institutional blockholders influence corporate investment? Evidence from emerging markets
Abstract
This paper examines the relationship between firm investment ratios and institutional blockholders for a sample of 6300 publicly traded firms in 16 large emerging markets for the 2004–2016 period. Results show that independent, long-term, and local institutional investors boost investment ratios, and this is consistent with the monitoring role and blockholder voice intervention hypotheses. The presence of institutional blockholders, regardless...
Paper Details
Title
Do institutional blockholders influence corporate investment? Evidence from emerging markets
Published Date
Dec 1, 2018
Journal
Volume
53
Pages
38 - 64
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