Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

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The Impact of Institutional Investors on Firm Performance: Evidence from China

Authors
Junyao Chen1, *,a, †, Qing Liu2, *, b, †, Youyu Yan3, *, c, †
1School of finance, Nanjing University of Finance and Economics, Nanjing, Jiangsu, China
2LiverpoolManagement School, University of Liverpool, Liverpool, Merseyside, the United Kingdom
3School of Economics, Nanjing University of Posts and Telecommunications, Nanjing, Jiangsu, China
†

These authors contributed equally.

*Corresponding authors. Email: a2120181393@stu.nufe.edu.cn
Corresponding Authors
Junyao Chen, Qing Liu, Youyu Yan
Available Online 26 March 2022.
DOI
10.2991/aebmr.k.220307.062How to use a DOI?
Keywords
Firm performance; Institutional investors; Chinese capital market
Abstract

We explore the impact of institutional investors on firm performance by using the data of the Chinese capital market from 2007 to 2020. We find that a higher proportion of institutional investors can lead to a better firm performance of listed companies. It means that institutional investors’ shareholding can significantly promote the performance of listed companies. The above findings are tested in a series of robustness tests, such as adopting the next period of firm performance and adding more control variables into our regression model. Our findings provide a notion that institutional investors are playing a more and more important corporate governance role in emerging markets, such as the Chinese stock market.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
10.2991/aebmr.k.220307.062
ISSN
2352-5428
DOI
10.2991/aebmr.k.220307.062How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - Junyao Chen
AU  - Qing Liu
AU  - Youyu Yan
PY  - 2022
DA  - 2022/03/26
TI  - The Impact of Institutional Investors on Firm Performance: Evidence from China
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 389
EP  - 396
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.062
DO  - 10.2991/aebmr.k.220307.062
ID  - Chen2022
ER  -