Can we expect institutional investors to improve corporate governance?

The Institutional Investors’ Governance Role on Corporate Overinvestment: A Review Based on Endogeneity

“…Such foreign scholars as Michael C Jensen [1] (1986)，Fazzari S, Hubbard G, Petersen B [2] (1988)，Stulz, Rebe M [3] (1990)，Hoshi T, Kashyap A, Scharfstein D [4] (1991)，Vogt S T [5] (1994)，Blanchard O J, Lopez-de-Silanes F, Shleifer A [6] (1994)，Lamont O, Polk C [7] (2002) explained the corporate overinvestment behaviors mainly from the perspectives of information asymmetry and financing cost, while the scholars at home such as Yang Huajun & Hu Yiming [8] (2007), Huang Benduo & Yu Shengdao [9] (2009), Wang Yanchao [10] (2009), Wang Ping & Sun Shixia [11] (2009), Xu Xiaodong & Zhang Xitian [12] (2009), Zhang Honghui & Wang Zongjun [13] (2010), Dai Deming & Wang Xiaopeng [14] (2011), and Liu Xing & Lian Jun [15] (2011) more tended to take free cash flow and equity structure as the factors influencing overinvestment. However, the scholars at home and abroad all thought the overinvestment supervising efficiency as an important aspect of measuring the improvement degree of corporate governance…”

When accounts become information: A study of investors’ ESG analysis practice

“…Among the studies that focus on the origin and handling of information, there is the work of Hellman (1996Hellman ( , 2005. When studying institutional investors' use of information for equity-investment purposes, Hellman (2005) finds that the analysts rely on spreadsheet models and labels for processing information.…”

“…When studying institutional investors' use of information for equity-investment purposes, Hellman (2005) finds that the analysts rely on spreadsheet models and labels for processing information. In terms of collected information, Hellman identifies two ways of collecting information.…”

Different Sources of Corporate Financial Information and Investment Decision Opportunity: Evidence from Amman Stock Exchange

“…According to Hellman (2005), the follow-up of an idea for investment action involved two ways of collecting information. The first one is by deriving it from the daily flow of information, while the second one is by undertaking an active search for information oneself.…”

“…Abu-Nassar & Rutherford, 1996;Al-Ajmi, 2009;Al-Attar & Al-Khater, 2007;Al-Razeen & Karbhari, 2004aHellman, 2005;Desoky, 2010;Mirshekary & Saudagaran, 2005;Naser et al, 2003). Thus, these items were used to achieve the first objective, as well; they used as independent variables in terms of its extent of usage to achieve the second objective.…”