The Impact of Institutional Investors on the Transformation and Upgrading of Enterprises

Lili Song ()
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Lili Song: Qilu University of Technology, Department of Economics and Management

A chapter in Proceedings of the 2024 3rd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2024), 2024, pp 313-323 from Springer

Abstract: Abstract Take 2010-2021 A-share manufacturing listed companies as a research sample, Institutional investors empirical test of the impact of the group on the transformation and upgrading of enterprises and its internal mechanism empress. It is found that institutional investors can significantly promote the transformation and upgrading of enterprises. Test results of the impact mechanism find that institutional investors promote the transformation and upgrading of enterprises by improving the efficiency of enterprise capital allocation, innovation ability and reducing the quality of enterprise information disclosure, and strengthening the protection of R&D transformation information. Institutional investors are heterogeneous. Concrete evidence: The study found that the concentration of institutional investors will not promote the transformation and upgrading of enterprises. Research fruit: It has deepened the relevant research on the impact of institutional investors on the transformation and upgrading of enterprises, and from the perspective of the concentration of group shareholdings of institutional investors, it provides a reference basis for further improving the transformation and upgrading of enterprises, continuously optimizing the innovation ability of enterprises, and improving the competitiveness of enterprises.

Keywords: Institutional investors; transformation and upgrading; capital allocation efficiency; innovation ability; information disclosure quality (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-548-5_34

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