异质机构投资者共同持股对所持股公司绩效影响的实证研究

Demonstration research of foreign institutional investor holding shares together's influence on company's performance

以2010年沪、深股市中同时有证券投资基金和除基金外其他机构投资者持股的682家公司为样本,构建线性回归模型研究了异质机构共同持股条件下,异质机构对公司绩效的影响。最终得出结论:在异质机构共同持股条件下,不论持股比例是否具有优势,证券投资基金对公司绩效均具有显著影响,而其他机构投资者对公司绩效均不具有影响。

Collecting 682 companies in the Shanghai and Shenzhen stock markets in 2010.which are shared ownership by securities investment funds and other institutional investors at the same time.the study build linear regression model to study heterogeneous institutional investors＇ impact on holding corporate＇s performance,when heterogeneous institutional investors share ownership of the corporate. Ultimately concluded： when heterogeneous institutional investors share ownership of the corporate,regardless of whether which investor owns the ownership advantages,securities investment funds impact on corporate performance are significantly affected,and other institutional investors are not having an impact on corporate performance.