Arbeitspapier
The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms
Monitoring by institutional investors can act as an important mechanism to promote firm innovation. By investigating Chinese listed firms' patenting between 2002 and 2011, we find that the presence of institutional investors enhances firm innovation. Consistent with the monitoring view, we further find that (1) the effect of institutional investors on firm patenting mainly comes from mutual funds; (2) the effect is more pronounced when market competition is more intense; (3) the effect exists among private- and minor state-owned enterprises, but not among major state-owned enterprises. The above findings are robust when innovation quality is examined.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 17-005
- Klassifikation
-
Wirtschaft
Financial Institutions and Services: General
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Innovation and Invention: Processes and Incentives
Management of Technological Innovation and R&D
Technological Change: Choices and Consequences; Diffusion Processes
- Thema
-
Institutional investor
Firm innovation
Patenting
Mutual funds
China
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Rong, Zhao
Wu, Xiaokai
Boeing, Philipp
- Ereignis
-
Veröffentlichung
- (wer)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (wo)
-
Mannheim
- (wann)
-
2017
- Handle
- URN
-
urn:nbn:de:bsz:180-madoc-419765
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Rong, Zhao
- Wu, Xiaokai
- Boeing, Philipp
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Entstanden
- 2017
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