Alexiou, C, Mohamed, A orcid.org/0000-0002-2974-9467 and Nellis, J (2021) The impact of institutional investors on firms' performance in the context of financialization. International Journal of Finance and Economics, 26 (1). pp. 290-309. ISSN 1076-9307
Abstract
This paper investigates the impact of U.K. institutional holdings on the financialization process. Using panel data analysis, we find that their holdings have a positive impact on the financialization. Investigating the source of this impact, we find that their portfolio companies outperform their peers matched by industry and size. Together, these findings suggest that institutional investors add value to the capital market and play an instrumental role in shaping the financialization process. Granger's causality test reveals that institutional holdings Granger cause financialization process, and the relationship is one‐way direction.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 John Wiley & Sons, Ltd. This is the peer reviewed version of the following article: Alexiou, C, Mohamed, A, Nellis, J. The impact of institutional investors on firms' performance in the context of financialization. Int J Fin Econ. 2019; 1– 20. https://doi.org/10.1002/ijfe.1790 , which has been published in final form at https://doi.org/10.1002/ijfe.1790. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | financialization; firms' performance; institutional investors |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 31 Oct 2019 14:23 |
Last Modified: | 10 Feb 2022 10:44 |
Status: | Published |
Publisher: | Wiley |
Identification Number: | 10.1002/ijfe.1790 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:152715 |