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Institutional Investors and Corporate Short-Term Debt Financing

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Fang-fei Ding

    (University of Hunan)

  • Chan Gu

    (University of Hunan)

  • Jin-hua Chen

    (University of Hunan)

Abstract

China’s listed companies have short-term debt financing preference. But institutional shareholders have the ability to influence the company’s financing decisions. Through the analysis of 2009–2011 data, we found that the proportion of institutional investors holding has a significant negative correlation with the level of short-term debt. The results show that institutional investors effectively participate in corporate finance. Institutional shareholders inhibit short-term debt financing preference. The positive action is conducive to the development of capital markets and the improvement of governance structure of listed companies.

Suggested Citation

  • Fang-fei Ding & Chan Gu & Jin-hua Chen, 2013. "Institutional Investors and Corporate Short-Term Debt Financing," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 437-444, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-37270-4_42
    DOI: 10.1007/978-3-642-37270-4_42
    as

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