The Impact of Institutional Ownership on Corporate Operating Performance

By Marcia Millon Cornett, Alan Marcus, Anthony Saunders, Hassan Tehranian. 2007

816 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/51a2274407cd15d095c487cf9d3834852f92b22d

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Citations in the corpus

Formal Institutions and Opportunity Entrepreneurship. The Contingent Role of Informal Institutions (2019, background): “To alleviate multicollinearity problems, all the variables are standardized to have a mean of 0 and standard deviation of 1 and, to mitigate simultaneity, all the explanatory variables are lagged one year (Cornett et al., 2007).”
The Development of China's Stock Market and Stakes for the Global Economy (2017, background): “…on the impact of institutional ownership from developed countries is mixed (Smith 1996, Wahal 1996, Morck & Nakamura 1999, Allen 2001, Woidtke 2002, Cornett et al. 2007), Yuan, Xiao & Zou (2008) find that mutual fund ownership increases a firm’s Tobin’s Q and other measures of firm performance.”
Distribution of institutional ownership and corporate firm performance (2010, background): “…institutional investors into three groups according to whether they have potential business relationships with the investee firms and, hence, their sensitivity to management pressure (Brickley et al., 1988; Del Guercio, 1996; Almazan et al., 2005; Chen et al., 2007; and Cornett et al., 2007).”
Institutional Investment Horizon and Investment-Cash Flow Sensitivity (2012, background): “…the argument of Foster and Viswanathan (1996) and Back et al. (2000) that information about the firm is revealed more rapidly when the number of 12 Cornett et al. (2007) find a significant relation between a firm’s operating cash flow returns and the number of institutional…”
Green credit policy and firm performance: What we learn from China (2021, background): “Institutional investors supervise management behavior by exercising voting rights, proposing bills and publishing ratings through the media, which is helpful to alleviate information asymmetry and improve corporate governance (Cornett et al., 2007).”
A Note on the Practice of Lagging Variables to Avoid Simultaneity (2013, neutral): “This also mitigates simultaneity issues " (Cornett et al., 2007, p. 1781); " We therefore also perform regressions with lagged changes to avoid simultaneity problems " (Green et al., 2005, p. 335f.); " First, to minimize the possibility of simultaneity between privatization and performance, we…”
Does corporate governance affect Australian banks' performance? (2016, background): “Some studies found positive relations between this governance variable and operating performance (see inter alia Hossain et al., 2001; Bushman et al., 2004; de Andres et al., 2005; Cornett et al., 2007; Doucouliagos et al., 2007; Dahya et al., 2008; Aggarwal et al., 2009).”