论文部分内容阅读
通过对国内外有关文献的回顾,本文发现机构投资者对上市公司的作用可以从公司治理、市场表现和经营业绩三个方面探讨。本文采用2003年至2005年的数据,分别探讨了我国机构投资者对上市公司这三方面的作用。结论表明,我国的机构投资者对上市公司股价的市场表现有一定影响,但对公司治理和经营业绩的作用仍非常微弱。我国机构投资者仍然处于发展的初期阶段。
Through the review of relevant literature at home and abroad, this paper finds that the role of institutional investors in listed companies can be explored from three aspects: corporate governance, market performance and business performance. This paper uses the data from 2003 to 2005 to discuss the role of institutional investors in China in these three aspects of listed companies respectively. The conclusion shows that the institutional investors in our country have an impact on the market performance of listed companies’ shares, but their effects on corporate governance and business performance are still very weak. China’s institutional investors are still in the early stages of development.