Myopic Investor or Active Monitor? The Role of Institutional Investors in Corporate Innovation
作者: Xiaoyan XuChunlei WangShijun Cheng
刊名: International Journal of Financial Research, 2015, Vol.6 (2)
来源数据库: Sciedu Press
DOI: 10.5430/ijfr.v6n2p23
原始语种摘要: We examine the role of institutional investors in firms’ innovation strategies. We find that although institutional shareholding is positively related to the likelihood of patenting, it is not related to firms’ exploratory innovation activities. Moreover, the presence of a block institutional holder or the holding by long-term investors has strong negative effect on exploratory innovations. Our study provides new insights to the role of institutional investors in firms’ innovation decisions.
全文获取路径: Sciedu出版社  (合作)
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关键词翻译
关键词翻译
  • institutional 惯例的
  • exploratory 勘探的
  • innovation 革新
  • patenting 铅处理
  • likelihood 似然
  • examine 
  • although 虽然
  • related 有关的
  • positively 断然
  • block 滑车