in this study, the effect of audit quality on agency costs and information asymmetry has been examined. among the accepted companies 99 ones in tehran stock exchange were selected for statistical samples from 1385 to 1392 in order to attain the research purposes. to measure the audit quality, it has been used the observable variables such as the percentage of institutional investors, the type o...

Perhaps the primary concern faced by asset managers, investors, and advisors is the need to focus portfolio risk where more skill has been demonstrated, while reducing or eliminating risk where there has been less skill proven. Surprisingly, limited research has been done on this topic, even though the issue is critically important to both institutional and individual investors who seek to find...

In recent years, many brokerage firms and hedge funds use a trading system based on financial engineering and many algorithms. On the other hand, many personal investors judge their trade by their intuition or advices from stock analysts. Therefore, there are a big gap of a trading method between the institutional investors and the personal investors. The objective of this paper is to propose a...

In order to reflect more fully the conflict between the potential for mutual gain and the prospect of divergent interests that characterizes the relationship between foreign investors and host country governments, we add institutional context to the traditional bargaining power perspective. We propose that change in the regulative institutions embodying an initial bargain is more likely to occu...

Questions of investment "timing" and the possibility that real estate returns may be somewhat predictable have recently moved to the forefront of the concerns facing institutional investors in real estate. This is largely a consequence of the experience of many investors who made substantial property investments during the mid 1980s, only to see these assets lose much of their value when the pr...

This paper develops a two-sector growth model in which institutional investors play a significant role. A necessary and suffi cient condition is established under which these investors own the entire capital stock in the long run. The dependence of the long-run growth rate on the behaviour of such investors, and the effects of a productivity increase are analysed. JEL classification. O41, O43 A...

Recent research documents that institutional or large investors act as antagonists to other investors by showing opposite trading behavior following disclosure of new information. Using an extremely comprehensive official transactions data set from Finland, we set out to explore the interrelation between investor size and behavior. More specifically, we test whether investor size is positively ...

This dissertation analyzes where and when experienced investors add value to startups. Building on the resource-dependence theory and the relational view of the firm, I argue that the positive effect of investor experience on startup performance is stronger when the startup faces a more uncertain environment. The first essay predicts a greater effect of investor experience early in the life cyc...

We study the role of institutional investors around the world using a comprehensive data set of equity holdings from 27 countries. We find that all institutional investors have a strong preference for the stock of large firms and firms with good governance, while foreign institutions tend to overweight firms that are cross-listed in the U.S. and members of the Morgan Stanley Capital Internation...