Study on Nature of Property Right, Shareholding of Institutional Investor and Enterprise Value

Autor:	Lehua Huang
Rok vydání:	2016
Předmět:	05 social sciences Enterprise value Institutional investor Financial system Sample (statistics) 0506 political science Property rights 0502 economics and business Agency (sociology) Value (economics) 050602 political science & public administration Business Market value 050203 business & management
Zdroj:	Journal of Service Science and Management. :56-65
ISSN:	1940-9907 1940-9893
DOI:	10.4236/jssm.2016.91008
Popis:	Based on 2688 groups of data during 2012-2014 of A-share market of Shenzhen and Shanghai Composite as the study sample, this article explores the influence of institutional investor on enterprise financial value and market value under the property differences. The study result shows that: The shareholding ratio of institutional investor and enterprise financial value are positively correlated; the shareholding ratio of institutional investor and enterprise market value are also positively correlated. Furthermore, this article, based on property right factors, explores the functional mechanism of the shareholding of institutional investors, finding that: Value of shareholding of institutional investors and market value in private enterprises are improved more than in SOE, indicating that governmental factors aggravate the subject of agency in SOE, and weaken the role of shareholding of institutional investors in improving the value of SOE.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::cc62269be91e8dc8d6b24b62bcc5fbed https://doi.org/10.4236/jssm.2016.91008 Zobrazit plný text záznamu