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Institutional ownership and corporate transparency in China

Ningyue Liu, Elaine Laing, Yue Cao and Xiaofei Zhang

Finance Research Letters, 2018, vol. 24, issue C, 328-336

Abstract: This letter examines the effect of institutional ownership on corporate information transparency in Chinese listed firms. We find strong evidence that mutual fund and qualified foreign institutional investors significantly improve corporate transparency. Our results suggest that institutional shareholders play an important role in improving both corporate governance and accounting transparency and are consistent with the view that institutional investors monitor and protect the interests of minority shareholders.

Keywords: Accounting information transparency; China; Corporate governance transparency; Institutional ownership; Mutual funds (search for similar items in EconPapers)
JEL-codes: G14 G23 G34 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:finlet:v:24:y:2018:i:c:p:328-336