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

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39 引用（Scopus）

摘要

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.

源语言	英语
页（从-至）	199-220
页数	22
期刊	Finance Research Letters
卷	24
DOI	https://doi.org/10.1016/j.frl.2017.12.001
出版状态	已出版 - 3月 2018

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Liu, N., Laing, E., Cao, Y., & Zhang, X. (2018). Institutional ownership and corporate transparency in China. Finance Research Letters, 24, 199-220. https://doi.org/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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AU - Laing, Elaine

AU - Cao, Yue

AU - Zhang, Xiaofei

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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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Institutional ownership and corporate transparency in China

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