In equilibrium, active investing must be compensated with returns from gathering costly information about stock values (e.g., Grossman and Stiglitz, 1980). In return, active investors serve to promote price discovery in stocks. However, substantial trading is required by active, informed investors, who may prefer to trade in the same stocks as passive, uninformed investors to hide their intenti...

The study empirically investigates how sustainability performance affects corporate through Leverage which is moderated by managerial and institutional ownership. This research employs verification analysis data techniques based on conditional process analysis. Financial Sector Companies, especially Banks listed the Indonesia Stock Exchange from 2018 to 2021, constitute population. study's find...

We investigate the dramatic transformation of ownership policies and ownership structure in Sweden during the postwar period. After WWII, Swedish ownership policies were guided by a socialist vision where the ultimate goal was abolition of private ownership. These policies came to an end in the early 1980s. Since then a large number of Swedish firms have been acquired by foreign owners or merge...

SYNOPSIS: This study examines whether financial analysts and institutional investors play a disciplinary role in monitoring corporate financial reporting and disclosure. Using a sample of firms that meet or marginally beat analysts’ forecasts, likely through upward earnings management and downward expectations management, this study shows that managers’ use of the two tactics is associated with...

This paper examines the relationship between the stock crash risk of REITs and different types of institutional investors. First, when we classify REIT institutional investors by their legal type, we find that the ownership of pension funds (bank trusts) is negatively (positively) related to REIT crash risk. In addition, the trading of investment companies, including mutual funds, has become po...

The principle of conservatism is the prudence against an uncertain situation to avoid excessive optimism from management and company owners. Consequently, if there a condition that likely cause loss, expense or debt, cost debt must be recognized immediately. variables used in this study include Institutional Ownership, Managerial Leverage, Profitability Accounting Conservatism. This research qu...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional owners increase managerial incentives to innovate by reducing the career risk of risky projects. The dat...

the purpose of the current research was to assess and analyze the effects of land renovation and development schemes. the work was carried out as case study in khor o biabanak area of esfahan province. the research was based upon survey, utilizing questionnaire and interview as tools to gather data. the statistical population contained all the land holdings related to the projects who had recei...

This paper examines how ownership structure and institutional development influence the liquidity management and investment policies of firms, in response to the threat of political extraction in China. First, we document evidence that firms controlled by private entrepreneurs hold less cash reserves than their state-owned counterparts. In addition, cash holdings (investments) is positively (ne...

The sense of body ownership, knowledge that parts of our body ‘belong’ to us, is presumably developed using sensory information. Cutaneous signals seem ideal for this and can modify the sense of ownership. For example, an illusion of ownership over an artificial rubber hand can be induced by synchronously stroking both the subject’s hidden hand and a visible artificial hand. Like cutaneous sign...