Earning Management, Institutional Investors and R&D Expenditure

摘要：

The impact of institutional investors on long-term investment like R&D investment has always been the focus of the theoretical circle. Based on manufacturing firms R&D data during 2006-2009,we studied the effect of institutional investors shareholding on companys R&D investment. Results show that shareholding of Chinas mutual funds and total institutional investors shareholding are negatively correlated with the earning management behavior by cutting R&D expenditure,which verify that institutional investors can promote R&D investment and protect investors interest,and is not myopic investors.

关键词： Institutional investor Earnings management R&D expenditure

作者: FAN Haifeng HU Yuming LI Zongzhang

作者单位: Economic and Management School, South China Agricultural University, 510642 Management School, Jinan University, 510632

会议类型: 国际会议

会议名称: The Sixth International Symposium on Corporate Governance(第六届公司治理国际研讨会)

会议地点: 大连

会议语种:英文

页码: 295-302

在线出版日期: 2011-08-20（万方平台首次上网日期，不代表论文的发表时间）