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Article: Mutual funds' ownership and firm performance: Evidence from China

TitleMutual funds' ownership and firm performance: Evidence from China
Authors
Yuan, RXiao, JZZou, H
KeywordsChina
Firm Performance
Institutional Ownership
Mutual Funds
Shareholder Activism
Issue Date2008
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jbf
Citation
Journal Of Banking And Finance, 2008, v. 32 n. 8, p. 1552-1565 How to Cite?
DOI: http://dx.doi.org/10.1016/j.jbankfin.2007.08.001
AbstractMutual funds have emerged and rapidly developed since 2000 in China. This study tests empirically the impact of mutual funds' ownership on firm performance in China, using a large sample for the period of 2001-2005. We find that equity ownership by mutual funds has a positive effect on firm performance. The result is robust to several measures of firm performance and various estimations. Our finding supports recent regulatory efforts in China to promote mutual funds as a corporate governance mechanism and suggests that pooling diffuse minority interests of individual shareholders who are prone to free-rider problems via mutual funds is beneficial. © 2007 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/188455
ISSN
0378-4266
2023 Impact Factor: 3.6
2023 SCImago Journal Rankings: 1.663
ISI Accession Number ID
WOS:000258356800011
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorYuan, Ren_US
dc.contributor.authorXiao, JZen_US
dc.contributor.authorZou, Hen_US
dc.date.accessioned2013-09-03T04:07:38Z-
dc.date.available2013-09-03T04:07:38Z-
dc.date.issued2008en_US
dc.identifier.citationJournal Of Banking And Finance, 2008, v. 32 n. 8, p. 1552-1565en_US
dc.identifier.issn0378-4266en_US
dc.identifier.urihttp://hdl.handle.net/10722/188455-
dc.description.abstractMutual funds have emerged and rapidly developed since 2000 in China. This study tests empirically the impact of mutual funds' ownership on firm performance in China, using a large sample for the period of 2001-2005. We find that equity ownership by mutual funds has a positive effect on firm performance. The result is robust to several measures of firm performance and various estimations. Our finding supports recent regulatory efforts in China to promote mutual funds as a corporate governance mechanism and suggests that pooling diffuse minority interests of individual shareholders who are prone to free-rider problems via mutual funds is beneficial. © 2007 Elsevier B.V. All rights reserved.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jbfen_US
dc.relation.ispartofJournal of Banking and Financeen_US
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in Journal of Banking and Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL 32, ISSUE 8, (2008)] DOI 10.1016/j.jbankfin.2007.08.001-
dc.subjectChinaen_US
dc.subjectFirm Performanceen_US
dc.subjectInstitutional Ownershipen_US
dc.subjectMutual Fundsen_US
dc.subjectShareholder Activismen_US
dc.titleMutual funds' ownership and firm performance: Evidence from Chinaen_US
dc.typeArticleen_US
dc.identifier.emailZou, H: hongzou@hku.hken_US
dc.identifier.authorityZou, H=rp01800en_US
dc.description.naturepreprinten_US
dc.identifier.doi10.1016/j.jbankfin.2007.08.001en_US
dc.identifier.scopuseid_2-s2.0-46749151307en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-46749151307&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume32en_US
dc.identifier.issue8en_US
dc.identifier.spage1552en_US
dc.identifier.epage1565en_US
dc.identifier.isiWOS:000258356800011-
dc.publisher.placeNetherlandsen_US
dc.identifier.scopusauthoridYuan, R=24333616000en_US
dc.identifier.scopusauthoridXiao, JZ=7402564707en_US
dc.identifier.scopusauthoridZou, H=12769328900en_US
dc.identifier.issnl0378-4266-

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