Does Institutional Investor Ownership Influence Corporate Cash Holding?

Yi Jiang; Hengrui Li; Yan Li

doi:10.2991/assehr.k.211209.013

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Does Institutional Investor Ownership Influence Corporate Cash Holding?

Authors

Yi Jiang¹^{, a}^{, †}, Hengrui Li²^{, b}^{, †}, Yan Li³^{, c}^{, †}

¹Beijing University of Technology

²Tianjin University of Commerce

³Shandong University of Finance and Economics

^b

lihengrui@stu.tjcu.edu.cn

^c

20191724118@mail.sdufe.edu.cn.

^†

These authors contributed equally.

^*Corresponding author. Email: ^ajiangyi@emails.bjut.edu.cn

Corresponding Author

Yi Jiang

Available Online 15 December 2021.

DOI: 10.2991/assehr.k.211209.013 How to use a DOI?
Keywords: institutional investor ownership; corporate cash holding
Abstract: Based on a sample of Shenzhen and Shanghai Exchange in 2007-2017, this paper examines the effect of institutional investor ownership on corporate cash holding. We establish the fixed effects model to study the relationship between them, and we use robustness checks and derive our results also have the robustness. Moreover, we do the heterogeneity analysis and find the impact of institutional investor ownership on corporate cash holding is more pronounced in firms with non-state-owned and non-Big 4 auditings. Therefore, the empirical results show that the high institutional ownership improves the level of corporate cash holding and this positive effect is more pronounced in non-state-owned enterprises and firms with low audit quality.
Open Access: This is an open access article under the CC BY-NC license.

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Volume Title: Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series: Advances in Economics, Business and Management Research
Publication Date: 15 December 2021
ISBN: 10.2991/assehr.k.211209.013
ISSN: 2352-5428
DOI: 10.2991/assehr.k.211209.013 How to use a DOI?
Open Access: This is an open access article under the CC BY-NC license.

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ris enw bib

TY  - CONF
AU  - Yi Jiang
AU  - Hengrui Li
AU  - Yan Li
PY  - 2021
DA  - 2021/12/15
TI  - Does Institutional Investor Ownership Influence Corporate Cash Holding?
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 78
EP  - 85
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.013
DO  - 10.2991/assehr.k.211209.013
ID  - Jiang2021
ER  -

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