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QFII shareholding, information access and corporate asset mismatching

Author

Listed:
  • Zhou, Biao
  • Cheng, Linting
  • Liu, Xiaofei

Abstract

Existing research on the efficiency of corporate asset allocation based on different perspectives has become the focus of academic attention and research. However, there are few studies that consider the underlying causes of asset mismatch, especially the lack of in-depth research on the role of information acquisition time difference in the mechanism between asset mismatch and inventory holding. Therefore, based on perspective of information access time difference and empirical evidence from listed companies from 2007 to 2022, this paper empirically finds that QFII stockholding significantly inhibits corporate asset mismatch behaviour; meanwhile, information access time difference can strengthen this inhibiting effect.

Suggested Citation

  • Zhou, Biao & Cheng, Linting & Liu, Xiaofei, 2024. "QFII shareholding, information access and corporate asset mismatching," Finance Research Letters, Elsevier, vol. 61(C).
    • Handle: RePEc:eee:finlet:v:61:y:2024:i:c:s1544612324000394
    DOI: 10.1016/j.frl.2024.105009
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    References listed on IDEAS

    as
    1. Wang, Xiaoyan, 2023. "Investor relations activities and insider trading: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PB).
    2. Baek, Seungjun, 2022. "Information acquisition and asset price volatility," Finance Research Letters, Elsevier, vol. 46(PA).
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    4. Chong, Zhiwei, 2012. "Rational expectations equilibrium with transaction costs in financial markets," Finance Research Letters, Elsevier, vol. 9(2), pages 73-80.
    5. Lu, Jing & Chen, Rongze, 2023. "Do individual investors pay attention to the information acquisition activities of institutional investors?," Finance Research Letters, Elsevier, vol. 58(PD).
    Full references (including those not matched with items on IDEAS)

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