Institutional Investors and Corporate Investment
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Derrien, François & Kecskés, Ambrus & Thesmar, David, 2013.
"Investor Horizons and Corporate Policies,"
Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 48(6), pages 1755-1780, December.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543594, HAL.
- François Derrien & Ambrus Kecskes & David Thesmar, 2013. "Investor Horizons and Corporate Policies," Post-Print hal-01069196, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00554079, HAL.
- François Derrien & Ambrus Kecskes & David Thesmar, 2012. "Investor Horizons and Corporate Policies," Working Papers hal-00696602, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543595, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543597, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543592, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543593, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543599, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543598, HAL.
- David Thesmar & A. Kecskès & F. Derrien, 2010. "Investor Horizons and Corporate Policies," Post-Print hal-00543591, HAL.
- Lucian Bebchuk & Alma Cohen & Allen Ferrell, 2009. "What Matters in Corporate Governance?," The Review of Financial Studies, Society for Financial Studies, vol. 22(2), pages 783-827, February.
- Gaspar, Jose-Miguel & Massa, Massimo & Matos, Pedro, 2005. "Shareholder investment horizons and the market for corporate control," Journal of Financial Economics, Elsevier, vol. 76(1), pages 135-165, April.
- Titman, Sheridan & Wei, K. C. John & Xie, Feixue, 2004.
"Capital Investments and Stock Returns,"
Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(4), pages 677-700, December.
- Sheridan Titman & K.C. John Wei & Feixue Xie, 2003. "Capital Investments and Stock Returns," NBER Working Papers 9951, National Bureau of Economic Research, Inc.
- Paul Gompers & Joy Ishii & Andrew Metrick, 2003.
"Corporate Governance and Equity Prices,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 107-156.
- Paul A. Gompers & Joy L. Ishii & Andrew Metrick, 2001. "Corporate Governance and Equity Prices," NBER Working Papers 8449, National Bureau of Economic Research, Inc.
- Paul A. Gompers & Joy L. Ishii & Andrew Metrick, 2002. "Corporate Governance and Equity Prices," Center for Financial Institutions Working Papers 02-32, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Fich, Eliezer M. & Harford, Jarrad & Tran, Anh L., 2015. "Motivated monitors: The importance of institutional investors׳ portfolio weights," Journal of Financial Economics, Elsevier, vol. 118(1), pages 21-48.
- Chen, Xia & Harford, Jarrad & Li, Kai, 2007. "Monitoring: Which institutions matter?," Journal of Financial Economics, Elsevier, vol. 86(2), pages 279-305, November.
- Harvey, Campbell R. & Lins, Karl V. & Roper, Andrew H., 2004.
"The effect of capital structure when expected agency costs are extreme,"
Journal of Financial Economics, Elsevier, vol. 74(1), pages 3-30, October.
- Campbell R. Harvey & Karl V. Lins & Andrew H. Roper, 2001. "The Effect of Capital Structure When Expected Agency Costs are Extreme," NBER Working Papers 8452, National Bureau of Economic Research, Inc.
- Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
- Parrino, Robert & Sias, Richard W. & Starks, Laura T., 2003. "Voting with their feet: institutional ownership changes around forced CEO turnover," Journal of Financial Economics, Elsevier, vol. 68(1), pages 3-46, April.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ee, Mong Shan & Hasan, Iftekhar & Huang, He, 2022. "Stock liquidity and corporate labor investment," Journal of Corporate Finance, Elsevier, vol. 72(C).
- Kyoungwon Mo & Kyung Yun (Kailey) Lee, 2019. "Analyst Following, Group Affiliation, and Labor Investment Efficiency: Evidence from Korea," Sustainability, MDPI, vol. 11(11), pages 1-19, June.
- Niall Reddy & Joel Rabinovich, 2022. "Debunking the short-termist thesis in financialization studies: Evidence from US non-financial corporations 1998 – 2018," Working Papers PKWP2227, Post Keynesian Economics Society (PKES).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Cella, Cristina, 2020. "Institutional investors and corporate investment," Finance Research Letters, Elsevier, vol. 32(C).
- Ghaly, Mohamed & Dang, Viet Anh & Stathopoulos, Konstantinos, 2020. "Institutional investors' horizons and corporate employment decisions," Journal of Corporate Finance, Elsevier, vol. 64(C).
- Balachandran, Balasingham & Williams, Barry, 2018. "Effective governance, financial markets, financial institutions & crises," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 1-15.
- Harford, Jarrad & Kecskés, Ambrus & Mansi, Sattar, 2018. "Do long-term investors improve corporate decision making?," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 424-452.
- Renneboog, L.D.R. & Szilagyi, P.G., 2009.
"Shareholder Activism through the Proxy Process,"
Other publications TiSEM
cc25d736-2965-4511-b100-1, Tilburg University, School of Economics and Management.
- Renneboog, L.D.R. & Szilagyi, P.G., 2009. "Shareholder Activism through the Proxy Process," Discussion Paper 2009-65, Tilburg University, Center for Economic Research.
- Dasgupta, Amil & Fos, Vyacheslav & Sautner, Zacharias, 2021. "Institutional investors and corporate governance," LSE Research Online Documents on Economics 112114, London School of Economics and Political Science, LSE Library.
- Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2021. "Institutional investment horizons, corporate governance, and credit ratings: International evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).
- Chang, Eric C. & Lin, Tse-Chun & Ma, Xiaorong, 2020. "Governance through trading on acquisitions of public firms," Journal of Corporate Finance, Elsevier, vol. 65(C).
- Huang, Kershen & Petkevich, Alex, 2016. "Corporate bond pricing and ownership heterogeneity," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 54-74.
- Ward, Charles & Yin, Chao & Zeng, Yeqin, 2018. "Institutional investor monitoring motivation and the marginal value of cash," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 49-75.
- Ferhat Akbas & Chao Jiang & Paul D. Koch, 2020. "Insider Investment Horizon," Journal of Finance, American Finance Association, vol. 75(3), pages 1579-1627, June.
- Fu, Xudong & Kong, Lei & Tang, Tian & Yan, Xinyan, 2020. "Insider trading and shareholder investment horizons," Journal of Corporate Finance, Elsevier, vol. 62(C).
- Aggarwal, Reena & Erel, Isil & Ferreira, Miguel & Matos, Pedro, 2011.
"Does governance travel around the world? Evidence from institutional investors,"
Journal of Financial Economics, Elsevier, vol. 100(1), pages 154-181, April.
- Aggarwal, Reena & Erel, Isil & Ferreira, Miguel & Matos, Pedro, 2009. "Does Governance Travel around the World? Evidence from Institutional Investors," Working Paper Series 2009-8, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Szilagyi, P.G., 2007. "Corporate governance and the agency costs of debt and outside equity," Other publications TiSEM 9520d40a-224f-43a8-9bf9-b, Tilburg University, School of Economics and Management.
- Cheung, Adrian (Wai Kong) & Hasan, Mostafa Monzur & Khoo, Joye, 2021. "Distracted institutional shareholders and corporate cash holdings," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 453-466.
- Vafeas, Nikos & Vlittis, Adamos, 2019. "Board executive committees, board decisions, and firm value," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 43-63.
- Mazur, Mieszko & Salganik-Shoshan, Galla & Walker, Thomas & Wang, Jun, 2018.
"Proximity and litigation: Evidence from the geographic location of institutional investors,"
Journal of Financial Markets, Elsevier, vol. 40(C), pages 60-74.
- Mieszko Mazur & Galla Salganik-Shoshan & Thomas Walker & Jun Wang, 2018. "Proximity and litigation: Evidence from the geographic location of institutional investors," Post-Print hal-02570949, HAL.
- Harford, Jarrad & Humphery-Jenner, Mark & Powell, Ronan, 2012. "The sources of value destruction in acquisitions by entrenched managers," Journal of Financial Economics, Elsevier, vol. 106(2), pages 247-261.
- Renneboog, Luc & Vansteenkiste, Cara, 2019.
"Failure and success in mergers and acquisitions,"
Journal of Corporate Finance, Elsevier, vol. 58(C), pages 650-699.
- Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Other publications TiSEM cb487f33-0217-412f-a1ec-d, Tilburg University, School of Economics and Management.
- Renneboog, Luc & Vansteenkiste, C., 2019. "Failure and Success in Mergers and Acquisitions," Discussion Paper 2019-026, Tilburg University, Center for Economic Research.
- Renneboog, Luc & Vansteenkiste, Cara, 2019. "Failure and success in mergers and acquisitions," Other publications TiSEM 9baa3ffc-67cb-4647-9da5-a, Tilburg University, School of Economics and Management.
- Jiang, George J. & Liu, Chang, 2021. "Getting on board: The monitoring effect of institutional directors," Journal of Corporate Finance, Elsevier, vol. 67(C).
More about this item
Keywords
Institutional ownership; investors’ investment horizons; over-investment; under-investment; management monitoring’;All these keywords.
JEL classification:
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CFN-2020-01-06 (Corporate Finance)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hhs:rbnkwp:0373. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lena Löfgren (email available below). General contact details of provider: https://edirc.repec.org/data/rbgovse.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.