Common institutional ownership and R&D manipulation

Shihao Wang, Keyun Wang, Mengting Guo, Umer Sahil Maqsood and Xuezhao Chen

Technological Forecasting and Social Change, 2025, vol. 217, issue C

Abstract: We investigate the correlation between common institutional ownership and R&D manipulation by analyzing A-share listed companies in China from 2008 to 2021. Our findings indicate that common institutional ownership significantly reduces R&D manipulation through effective monitoring and governance. Further examinations of investor characteristics reveal that our findings are more pronounced in samples whose common owners are long-term investors or state-owned firms. Finally, we discover that common institutional ownership significantly improves the R&D input and total factor productivity. Overall, our research demonstrates that common institutional ownership has a beneficial impact in reducing misconduct such as R&D manipulation.

Keywords: Common institutional ownership; R&D manipulation; Monitoring and governance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:217:y:2025:i:c:s0040162525001982

DOI: 10.1016/j.techfore.2025.124167

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