THE IMPACT OF INSTITUTIONAL INVESTORS’ OWNERSHIP ON PERFORMANCE AND FINANCIAL POSITION: EVIDENCE FROM FIRMS IN THE REPUBLIC OF CROATIA (CROSBI ID 296653)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Đunđek Kokotec, Ivana ; Orsag, Silvije ; Klačmer Čalopa, Marina
engleski
THE IMPACT OF INSTITUTIONAL INVESTORS’ OWNERSHIP ON PERFORMANCE AND FINANCIAL POSITION: EVIDENCE FROM FIRMS IN THE REPUBLIC OF CROATIA
The research problem of this study is focused on examining the impact of the ownership of institutional investors on the corporate governance of Croatian companies. The problem was approached comprehensively such that institutional investors were analysed as both homogeneous and heterogeneous groups (investment funds, pension funds, insurance companies). The results of this study reveal a statistically significant impact of institutional investor ownership being viewed as both homogeneous and heterogeneous groups on business performance and financial position, which reduces the gap between ownership intentions and management interests, thereby resulting in an increase in shareholder wealth while limiting the satisfaction and social goals of a company.
institutional investors ; corporate governance ; investment time horizon ; portfolio investment style ; business performance ; financial position ; panel data ; GMM estimators
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Podaci o izdanju
16 (1)
2021.
53-69
objavljeno
2233-1999
10.2478/jeb-2021-0005
Povezanost rada
Ekonomija