The correlation between ETF shareholding, accounting information value, and investment efficiency

Yunhong Cao and Huiling Gu

Finance Research Letters, 2025, vol. 81, issue C

Abstract: Based on data from Chinese listed companies from 2003 to 2022, this paper explores the relationship between ETF shareholding and investment efficiency. The research findings indicate that ETF shareholding enhances corporate investment efficiency; ETF shareholding improves the relevance of accounting information value, thereby increasing corporate investment efficiency; and the level of corporate governance plays a crucial moderating role in the relationship between ETF shareholding and investment efficiency.

Keywords: ETF shareholding; Investment efficiency; Relevance of accounting information value; Corporate governance level (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325007366

DOI: 10.1016/j.frl.2025.107477

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