创业板机构投资者投资行为与绩效实证研究

Empirical studies of the growth enterprise board institutional investors investment behavior and performance

在当代资本市场的发展过程中,机构投资者发挥着日益重要的作用。本文首先进行机构投资者的相关理论概述,为后文的实证研究提供理论基础,然后通过对沪、深两市创业板上市公司2010年第二季度的财务季报数据进行实证分析,一方面研究机构投资者投资重点的行业分布,另一方面分析不同机构投资者对企业绩效的影响,得出实证结论并给出政策建议。

In the process of the development of capital market,investors are playing an increasingly important role. Firstly,this paper introduces the related theory of the institutional investors for the empirical analysis to provide the theoretical foundation..Then,through analyzing 2010 the second quarterly financial data of Shanghai and Shenzhen growth enterprise board companies,on one hand,this paper research the key industry distribution of institutional investors.On the other hand,this paper analyzes the influence on enterprise performance among the different institutional investors and offer policy suggestions.