Corporate ownership and firm performance

다국어 초록 (Multilingual Abstract)

While extant literature shows that institutional investors playing an increasingly important role in improving corporate performance, the emprical evidence has provided mixed results. Using F score as a tool to measure firm performance, this paper attempts to find out the relationship between state, domestic and foreign institutional ownership and firm performance. There is a positive correlation between domestic institutional investors and company performance. Besides, domestic institutional investors exert a positive impact on the improvement of corporate performance, while both foreign investors are positively correlated with corporate performance, though the performance improvement is not obvious; state institutional investors also have a positive impact on firm performance.

목차 (Table of Contents)

• Chapter 1.Introduction 1
• Chapter2:Literature&hypothesis 6
• 2.1 Institutional ownership background: 6
• 2.2 F_score background 11
• Chapter 3. Data and descriptive statistics 13
• 3.1Data 13
• 3.2 Empirical methods 17
• 3.3 Summary Statistics 17
• Chapter4:Empirical Results 22
• 4.1 The relationship between institutional ownership and F-score 22
• 4.2 Does the change of institutional ownership predict the change in the F_score? 29
• Chapter 5. Conclusion 34
• Reference 36