本文關(guān)鍵詞： 公司績效 動態(tài)內(nèi)生性 機(jī)構(gòu)投資者 持股變動　出處：《宏觀經(jīng)濟(jì)研究》2017年02期 　論文類型：期刊論文

【摘要】：本文以創(chuàng)業(yè)板上市公司為研究樣本,采用動態(tài)面板數(shù)據(jù)模型檢驗機(jī)構(gòu)投資者持股變動與公司績效的關(guān)系。實證研究顯示:(1)機(jī)構(gòu)投資者持股變動與公司績效存在內(nèi)生性;(2)機(jī)構(gòu)投資者持股變動與公司績效存在動態(tài)跨期作用,當(dāng)期機(jī)構(gòu)投資者持股比例變動對當(dāng)期公司績效呈現(xiàn)負(fù)相關(guān)關(guān)系,滯后期機(jī)構(gòu)投資者持股比例變動對當(dāng)期公司績效呈現(xiàn)負(fù)相關(guān)關(guān)系。
[Abstract]:This paper takes the gem listed companies as the research sample. The dynamic panel data model is used to test the relationship between institutional investor stock holding change and corporate performance. (2) there is a dynamic intertemporal effect between institutional investor's stock holding change and corporate performance, and there is a negative correlation between the current institutional investor's share holding ratio and the current company's performance. There is a negative correlation between the change of institutional investor's shareholding ratio and the current corporate performance.
【作者單位】： 中央財經(jīng)大學(xué)商學(xué)院;
【分類號】：F275;F832.51
【正文快照】： _ _nS,S 隨著我枿柿涵髓規(guī)栛壚者持股規(guī)模日趨增加,岕栔不岕升,日漸成為我國資本市場上重要的投資主體。目前,養(yǎng)老、保險等資金榦健，

本文編號：1477211