The “crowd” in online crowdfunding is no longer just comprised of retail investors; in fact, debt-based crowdfunding or peer-to-peer lending has long attracted the interest of institutional investors. Given their expertise, institutional investors are often referred to as “smart money” in traditional financial markets. It is not clear however how they may behave in this nascent market, and more...

Using Panel Data methods, this paper examines the impact of institutional investors on corporate governance and corporate performance, based on samples of familial listed companies in China from 2006 to 2008. The research shows that after investing in familial listed companies, institutional investors would play an important role to improve corporate governance. Simultaneously, the proportion o...

We investigate how distraction affects the trading behavior of professional asset managers. Exploring detailed transaction-level data, we show that managers with a large fraction of portfolio stocks exhibiting an earnings announcement are significantly less likely to trade in other stocks, suggesting that these announcements absorb attention which is missing for the choice of which stocks to tr...

This paper examines the preferences of foreign and dometic institutional investors in Indian stock markets. Foreign and domestic institutional investors both prefer larger, widely dispersed firms and do not chase returns. However, we find evidence of strong differences in the behaviour of foreign and domestic institutional investors. Foreign investors prefer to buy private, liquid, young and gl...

investment institutions with substantial shareholdings in a firm have the resources and incentives to monitor and influence management decisions. whether the institutions actually monitor and exert pressure on managers is an empirical question.this study is designed to provide insights into the monitoring role of institutional investors by examining whether institutional ownership affects the i...

This paper examines the relationship between the stock crash risk of REITs and different types of institutional investors. First, when we classify REIT institutional investors by their legal type, we find that the ownership of pension funds (bank trusts) is negatively (positively) related to REIT crash risk. In addition, the trading of investment companies, including mutual funds, has become po...

Based on the Chinese IPO book building mechanism as the background, the paper chooses the market-oriented period (from November,2010 to April,2012) of the IPOs as the samples, and studies the relationship between the collusive behavior, institutional investors’ bidding behavior and underwriters’ pricing strategy(as well as the post-IPO performance). The results show that: Firstly, in the case o...

a r t i c l e i n f o Using high frequency intraday data, this paper investigates the herding behavior of institutional and individual investors in the Taiwan stock market. The study finds evidence of herding by both investors but a stronger herding tendency among institutional than among individual investors. Institutional investors herd more on firms with small capitalizations and lower turno...