Institutional investors and firm innovation: a test of competing hypotheses

Article Abstract:

Institutional ownership is examined in terms of its impact on firm innovation. The analysis focuses on three competing hypotheses regarding the behavior of institutional investors. The myopic investor hypothesis holds that institutional investments are made to generate short-term gains. The superior investor hypothesis proposes that institutional investors can select companies with greater value potential as indicated by their greater innovative ability. The active investor hypothesis contends that institutional investors do not necessarily choose companies for their innovativeness, but strongly influences the firms they invest in to become more innovative. The results of the analysis support the third hypothesis, but not the first two.

Business, Innovations, Business enterprises, Institutional investments

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Strategic investments in Japanese corporations: do foreign portfolio owners foster underinvestment or appropriate investment?

Article Abstract:

The effects of foreign ownership on strategic investments in Japanese corporations are analyzed.

Japan, International economic relations, Foreign investments, Corporate governance, Trade policy, Foreign ownership

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Investor activism, managerial responsiveness, and corporate social performance

Article Abstract:

The effects of shareholder proposals on corporate social performance are analyzed.

United States, Forecasts, trends, outlooks, Evaluation, Forecasts and trends, Market trend/market analysis, Corporate social responsibility, Shareholder activism

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