Institutional Investor Activism and Corporate Governance

摘要：

The roles of institutional investors are drawing increasing attention in the study of corporate governance and development of the capital market. Based on the relationship between institutional investors and corporate governance as well as the findings available now, this pa per uses mathematic model to discuss the four factors influencing institu tional investors activism for participation in corporate governance: pro portion of stake in a single company, probability of defective governance structure in the capital market, perfection of governance structure of the investee, and the monitoring costs, on which basis conclusions are drawn. In the end, the paper comes up with some ideas for policies with respect to institutional investors active role in governance of Chinas lis ted companies.

关键词： Institutional investors Corporate governance Cash flow

作者: Li Qingyuan Wang Tielin Wang Yonghai

作者单位: Accounting department, Wuhan University Accounting department,Guangdong University of Finance

会议类型: 国际会议

会议名称: 2008 Sino-Australia International Conference on Accounting and Finance(2008中澳会计与财务国际学术研讨会)

会议地点: 武汉

会议语种:英文

页码: 41-54

在线出版日期: 2008-10-31（万方平台首次上网日期，不代表论文的发表时间）