Does Institutional Investor Ownership Influence Corporate Cash Holding?
These authors contributed equally.
- 10.2991/assehr.k.211209.013How to use a DOI?
- institutional investor ownership; corporate cash holding
Based on a sample of Shenzhen and Shanghai Exchange in 2007-2017, this paper examines the effect of institutional investor ownership on corporate cash holding. We establish the fixed effects model to study the relationship between them, and we use robustness checks and derive our results also have the robustness. Moreover, we do the heterogeneity analysis and find the impact of institutional investor ownership on corporate cash holding is more pronounced in firms with non-state-owned and non-Big 4 auditings. Therefore, the empirical results show that the high institutional ownership improves the level of corporate cash holding and this positive effect is more pronounced in non-state-owned enterprises and firms with low audit quality.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Yi Jiang AU - Hengrui Li AU - Yan Li PY - 2021 DA - 2021/12/15 TI - Does Institutional Investor Ownership Influence Corporate Cash Holding? BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 78 EP - 85 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.013 DO - 10.2991/assehr.k.211209.013 ID - Jiang2021 ER -