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Independent boards and the institutional investors that prefer them: Drivers of institutional investor heterogeneity in governance preferences
Institutional investors report that they prefer to invest in firms with greater board independence despite the fact that researchers have been unable to demonstrate a link between board independence and firm performance. We investigate whether differences among institutional investors affect these preferences. We find that trading strategies have some effect but that mutual funds?facing the strongest institutional pressures?have significantly stronger preferences for firms with greater board independence than do other types of institutional investors. This suggests that institutional investor preferences for independent boards are at least partially driven by institutional pressures rather than anticipated reductions in agency costs. .Printed Journal, baca ditempat
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| SMJ3510 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | : Wiley Periodicals |
|---|---|
| Edisi | - |
| Subjek | Agency theory Institutional Investors Institutional Theory Institutional investor heterogeneity Socialization of agency theory |
| ISBN/ISSN | 1432095 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |