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Institutional investment horizon, state ownership, and earnings management: evidence from China

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  • Zhihao Wang
  • Kezhi Liao
  • Weidong An

Abstract

This article examines the effect of the institutional investment horizon on firms’ earnings management and the moderating effect of state ownership. Using a sample of Chinese listed companies from 2010 to 2018, we find that a shorter institutional horizon leads to significantly more earnings management. Focusing on the interaction between the institutional horizon and state ownership, we find that the negative effect of short-term institutional shareholdings is weaker in state-owned firms. This article contributes to the existing literature by addressing the relationship between institutional investment horizon, state ownership, and earnings management in emerging capital markets.

Suggested Citation

  • Zhihao Wang & Kezhi Liao & Weidong An, 2023. "Institutional investment horizon, state ownership, and earnings management: evidence from China," Applied Economics Letters, Taylor & Francis Journals, vol. 30(11), pages 1505-1521, June.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:11:p:1505-1521
    DOI: 10.1080/13504851.2022.2064418
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    Cited by:

    1. Wu, Zihao & Lin, Siliang & Chen, Tianhao & Luo, Chunyang & Xu, Hui, 2023. "Does effective corporate governance mitigate the negative effect of ESG controversies on firm value?," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1772-1793.

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