The present study analyzes and assesses the robustness of monitoring effectiveness institutional investment against information asymmetry prevailing in market, especially asymmetric Domestic Institutional Investment (DII) vis-à-vis Foreign (FII). Drawing from a sample listed non-financial firms with 20% or more, this tests relationship between earnings management ownership controlling for known...

This paper provides original evidence from institutional investors that political uncertainty greatly affects investment behavior. Using holdings of common stock, we find institutions significantly reduce their by 0.8–2.3% points during presidential election years. Such effect holds for gubernatorial elections with cross-state-border difference-in-difference analysis and tests using a index. Th...

Total factor productivity represents a dimension of output that cannot be attributed to factors production; it is unique the firm, and central its competitiveness. We posit ownership structure plays key role in productivity. However, has an effect on which changes with firm’s age. Ownership optimal for new firms may not older firms. here consider impact as defined by shares individuals’ versus ...

The paper tests the applicability of Whitley’ s business systems framework to the study of international differences in corporate ownership structure. In support of Whitley’ s framework we document the existence of large differences among the largest companies in 12 European nations. Furthermore we find that these differences can be partly attributed to the institutional determinants stressed b...