Institutional ownership and corporate transparency in China

Ningyue Liu; Elaine Laing; Yue Cao; Xiaofei Zhang

doi:10.1016/j.frl.2017.12.001

Institutional ownership and corporate transparency in China

Ningyue Liu, Elaine Laing, Yue Cao^*, Xiaofei Zhang

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

38 Citations (Scopus)

Abstract

This letter examines the effect of institutional ownership on corporate information transparency in Chinese listed firms. We find strong evidence that mutual fund and qualified foreign institutional investors significantly improve corporate transparency. Our results suggest that institutional shareholders play an important role in improving both corporate governance and accounting transparency and are consistent with the view that institutional investors monitor and protect the interests of minority shareholders.

Original language	English
Pages (from-to)	199-220
Number of pages	22
Journal	Finance Research Letters
Volume	24
DOIs	https://doi.org/10.1016/j.frl.2017.12.001
Publication status	Published - Mar 2018

Keywords

Accounting information transparency
China
Corporate governance transparency
Institutional ownership
Mutual funds

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10.1016/j.frl.2017.12.001

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title = "Institutional ownership and corporate transparency in China",

abstract = "This letter examines the effect of institutional ownership on corporate information transparency in Chinese listed firms. We find strong evidence that mutual fund and qualified foreign institutional investors significantly improve corporate transparency. Our results suggest that institutional shareholders play an important role in improving both corporate governance and accounting transparency and are consistent with the view that institutional investors monitor and protect the interests of minority shareholders.",

keywords = "Accounting information transparency, China, Corporate governance transparency, Institutional ownership, Mutual funds",

author = "Ningyue Liu and Elaine Laing and Yue Cao and Xiaofei Zhang",

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year = "2018",

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AU - Liu, Ningyue

AU - Laing, Elaine

AU - Cao, Yue

AU - Zhang, Xiaofei

PY - 2018/3

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N2 - This letter examines the effect of institutional ownership on corporate information transparency in Chinese listed firms. We find strong evidence that mutual fund and qualified foreign institutional investors significantly improve corporate transparency. Our results suggest that institutional shareholders play an important role in improving both corporate governance and accounting transparency and are consistent with the view that institutional investors monitor and protect the interests of minority shareholders.

AB - This letter examines the effect of institutional ownership on corporate information transparency in Chinese listed firms. We find strong evidence that mutual fund and qualified foreign institutional investors significantly improve corporate transparency. Our results suggest that institutional shareholders play an important role in improving both corporate governance and accounting transparency and are consistent with the view that institutional investors monitor and protect the interests of minority shareholders.

KW - Accounting information transparency

KW - China

KW - Corporate governance transparency

KW - Institutional ownership

KW - Mutual funds

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DO - 10.1016/j.frl.2017.12.001

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SN - 1544-6123

VL - 24

SP - 199

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JO - Finance Research Letters

JF - Finance Research Letters

ER -

Institutional ownership and corporate transparency in China

Abstract

Keywords

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