Institutional investors, political connections and analyst following in Malaysia
Description
We examine the association between institutional ownership, political connections, and analyst following in Malaysia from 1999 to 2009. Based on 940 firm-year observations, we document a positive relation between institutional ownership, particularly by Employees Provident Fund (EPF), and analyst following, thus supporting the governance role that institutional investors play in promoting corporate transparency. However, there is no evidence that political connections matter to analyst following. The monitoring role of institutional investors, including EPF, does not appear to be any different between politically connected and non-connected firms.
Impact and interest:
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| ID Code: | 77990 | ||||
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| Item Type: | Contribution to Journal (Journal Article) | ||||
| Refereed: | Yes | ||||
| ORCID iD: |
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| Measurements or Duration: | 10 pages | ||||
| Keywords: | Analyst following, Corporate governance, Institutional investors, Malaysia, Political connections | ||||
| DOI: | 10.1016/j.econmod.2014.07.043 | ||||
| ISSN: | 0264-9993 | ||||
| Pure ID: | 32726422 | ||||
| Divisions: | Past > QUT Faculties & Divisions > QUT Business School Current > Schools > School of Economics & Finance |
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| Copyright Owner: | Consult author(s) regarding copyright matters | ||||
| Copyright Statement: | This work is covered by copyright. Unless the document is being made available under a Creative Commons Licence, you must assume that re-use is limited to personal use and that permission from the copyright owner must be obtained for all other uses. If the document is available under a Creative Commons License (or other specified license) then refer to the Licence for details of permitted re-use. It is a condition of access that users recognise and abide by the legal requirements associated with these rights. If you believe that this work infringes copyright please provide details by email to qut.copyright@qut.edu.au | ||||
| Deposited On: | 22 Oct 2014 23:50 | ||||
| Last Modified: | 26 Jun 2024 11:44 |
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