The analysis between mutual funds’ ownership and firms’performance: Evidence from China
Date Issued
2012
Date
2012
Author(s)
Su, Fang-Wei
Abstract
This study tests empirically the impact of mutual funds’ ownership on firm performance in China, using a large sample for the period of 2004–2010.This study find that there is a positive relationship between mutual funds ‘ ownership and firms performance, this result may imply mutual funds governor firms’ managers. This study establish Maximum point of difference is that this study and previous studies research background in the research development fund established in China with the specification has matured, become China''s acceptance of the investing public investment tools, examine whether the mutual funds’ holdings and the positive correlation between holding company performance?
Although during the study period, the China Securities Regulatory Commission published < on the shares of a listed company split reform pilot notification on the relevant issues >, start the split share structure, but the process is carried out in batches of the shareholder structure, in the sample of the study period in the number of shares remains low, there is still a free rider problem. This research find mutual funds’ ownership andcompanies’ performance have positive correlation, also means that mutual funds’ holdings still can help China resulting from flows out too few shares of the free rider problem.
Although during the study period, the China Securities Regulatory Commission published < on the shares of a listed company split reform pilot notification on the relevant issues >, start the split share structure, but the process is carried out in batches of the shareholder structure, in the sample of the study period in the number of shares remains low, there is still a free rider problem. This research find mutual funds’ ownership andcompanies’ performance have positive correlation, also means that mutual funds’ holdings still can help China resulting from flows out too few shares of the free rider problem.
Subjects
mutual funds’ ownership
firms performance
free-rider
Type
thesis
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