Naslov
THE IMPACT OF INSTITUTIONAL INVESTORS’ OWNERSHIP ON PERFORMANCE AND FINANCIAL POSITION: EVIDENCE FROM FIRMS IN THE REPUBLIC OF CROATIA

Autori
Đunđek Kokotec, Ivana ; Orsag, Silvije ; Klačmer Čalopa, Marina

Izvornik
The South East European Journal of Economics and Business (2233-1999) 16 (2021), 1; 53-69

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
institutional investors ; corporate governance ; investment time horizon ; portfolio investment style ; business performance ; financial position ; panel data ; GMM estimators

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA