Comparative Study on the Impacts of Institutional and Individual Investor on Security Investment Risk
نویسندگان
چکیده
Institutional investor is supposed to be more powerful than individual investor from the perspectives of regularity authority and scholar, but the results are mixed. Using the data of listed company in China, the paper presents a comparative study on the impacts of institutional investor and individual investor on investment risk. It shows that the scale and ownership of institutional investor have negative impacts on investment risk significantly, but the scale and ownership of individual investor have positive impacts on investment risk, which implies institutional investor has the effects to reduce investment risk comparing with individual investor. Therefore, developing institutional investor and reducing the scale of individual inventor is important for the stability of security market.
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