Corporate Governance and Institutional Ownership

  title={Corporate Governance and Institutional Ownership},
  author={K. Chung and H. Zhang},
  journal={IO: Firm Structure},
  • K. Chung, H. Zhang
  • Published 2009
  • Business
  • IO: Firm Structure
  • In this study we examine the relation between corporate governance and institutional ownership. Our empirical results show that the fraction of a company’s shares that are held by institutional investors increases with the quality of its governance structure. In a similar vein, we show that the proportion of institutions that hold a firm’s shares increases with its governance quality. Our results are robust to different estimation methods and alternative model specifications. These results are… CONTINUE READING
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