A Study on Relationship between Shares-proportion of Institutional Investors and Corporation Performance----Based on the Dates of the Chinese listed Co.

摘要

We have a study on relationship between shares-proportion of institutional investors and corporation performance during 2001 to 2005 in China. According to the positive analysis, we found the institutional investors have ability to choose the corporation which performance of them are markedly higher than which are not chosen by them. Moreover, from year of 2003, the more shares-proportion, the more corporation performance and the more restrict level to big shareholder, the more corporation performance are. Furthermore, the performance after the institutional investors investing exceeds the performance. So the institutional investors in China have value-creator characteristic. Development of the institutional investors to establish competition shareholder share structure and institutional investor union action then are advised.