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Part 1: Document Description
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Citation |
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Title: |
Foreign Institutional investors' Certification and Domestic Minority Shareholders' Mistrust |
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Identification Number: |
doi:10.7910/DVN/683UZ2 |
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Distributor: |
Harvard Dataverse |
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Date of Distribution: |
2024-06-14 |
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Version: |
1 |
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Bibliographic Citation: |
Li, Yong, 2024, "Foreign Institutional investors' Certification and Domestic Minority Shareholders' Mistrust", https://doi.org/10.7910/DVN/683UZ2, Harvard Dataverse, V1 |
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Citation |
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Title: |
Foreign Institutional investors' Certification and Domestic Minority Shareholders' Mistrust |
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Identification Number: |
doi:10.7910/DVN/683UZ2 |
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Authoring Entity: |
Li, Yong |
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Distributor: |
Harvard Dataverse |
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Access Authority: |
Li, Yong |
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Depositor: |
Li, Yong |
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Date of Deposit: |
2024-05-10 |
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Holdings Information: |
https://doi.org/10.7910/DVN/683UZ2 |
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Study Scope |
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Keywords: |
Business and Management |
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Abstract: |
Using hand-collected data from China’s split share structure reform (SSSR) program, we show that foreign institutional investors’ certification mitigates domestic minority shareholders’ mistrust of controlling shareholders’ reform plans and facilitates the implementation of the SSSR. Domestic minority shareholders cast fewer dissenting votes, complete the SSSR more quickly but with lower compensation, and achieve higher stock return reactions in reforming firms with higher foreign institutional ownership. Foreign institutional investors’ prestige is a key factor in aligning domestic minority shareholders toward seeking long-term payoffs. Our work reveals the positive role of foreign institutional investors’ certification in a salient reform of corporate governance |
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Methodology and Processing |
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Sources Statement |
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Data Access |
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Availability Status: |
<b>Code Usage: </b><br /><br /> Those downloading the data and code files will acknowledge that the programs are only to be used for academic research. Any other use will require explicit permission from all the authors of the published paper and other originators of the code (if such other originators exist). Academic researchers using any part of the code in their own work are required to acknowledge the origin of the code. |
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Other Study Description Materials |
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Related Publications |
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Citation |
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Title: |
INCLUDE the citation to the related article here, and include the IDENTIFIER TYPE found below as well as the URL to your publication. Your "publication" should have the DOI generated here once you "save" your DRAFT deposit, for the related data. REMOVE THIS NOTE BEFORE PUBLISHING YOUR DEPOSIT. |
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Bibliographic Citation: |
INCLUDE the citation to the related article here, and include the IDENTIFIER TYPE found below as well as the URL to your publication. Your "publication" should have the DOI generated here once you "save" your DRAFT deposit, for the related data. REMOVE THIS NOTE BEFORE PUBLISHING YOUR DEPOSIT. |
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Label: |
Code_for_FIO_Certifiation_paper.do |
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Text: |
Code_for_FIO_Certifiation_paper |
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Notes: |
application/x-stata-syntax |