Institutional ownership and returns on investment
نویسندگان
چکیده
منابع مشابه
Tax Avoidance and Institutional Ownership: Active vs. Passive Ownership
Income tax is one of the most important costs of companies and it is usually considered as a cost that should not be paid. One of the most noticeable and influential factors in tax avoidance is corporate ownership structure. With an emphasis on institutional ownership and its types in this paper, it is attempted to measure the effect of this ownership and its types on corporate tax avoidance. F...
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Neoclassical models postulate that firms’ investment is determined by expected profitability and the cost of capital. Capital market imperfections, caused by information asymmetries and agency costs, lead to a modified investment scenario, where the external cost of capital is higher than the cost of internal funds. This, in turn, leads to the well-known result of underinvestment by firms. We h...
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Performance appraisal is a process which help shareholders make informed and optimal investment decisions. In recent decades, a long stream of research has devoted particular attention to the importance and impact of financial decisions on firm performance and firm value. The present study thus is primarily concerned with investigating the association between free cash flow and institutional ow...
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Institutions commonly purchase fully utilized, prime properties of “institutional quality,” while other investors buy both underutilized and subprime properties. Managers of institutions with well diversified, liquid portfolios claim to be averse to the additional risk and illiquidity of noninstitutional assets. This behavior and its puzzling explanation are predicted by this dynamic model of c...
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Does greater equity ownership by institutional investors improve or inhibit innovation incentives? We present a model of career concerns where institutional ownership increases the incentives managers have to innovate through reducing informational asymmetries. We then utilize an original panel of US firms containing information on ownership, governance, managerial characteristics and innovatio...
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ژورنال
عنوان ژورنال: Corporate Ownership and Control
سال: 2016
ISSN: 1810-3057,1727-9232
DOI: 10.22495/cocv13i4c3p1