The Study On Effect Of Institutional Investors' Intervening In Corporate Governance Of Listed Companies

The corporate governance has been a hot topic all over the world。Institutional Investor Activism arose gradually in the western cont,making the involvement in the listed corporate governance's structure of those institutional investors more actively,in the hope of getting additional value by improving the investment condition of the listed target。In recent years,China's institutional investors have made great progress both in type and scale,which lays a certain foundation for China's institutional investors' intervention in corporate governance,but the effect is limited dues to the problem of China's corporate governance and institutional investors itself。It's necessary to construct the governance system dominated by institutional investors in order to play the role of institutional investors' intervention in the corporate governance。The paper begins with the study of the institutional investors and corporate governance;then,analyzes the mechanism and performance of institutional investors' intervening in the corporate governance deeply, what's more,analyzes the effect of China's institutional investors on corporate governance and the problems from the perspective of theoretical and empirical,at last,the paper proposes the path choice of the construction of the governance system dominated by institutional investors on the basis of study above。The paper is consisted of six chapters and each chapter goes roughly as follows:ChapterⅠ:introduces the significance of the study,the current situation of the study on the institutional investors involving in corporate governance,the research frame and research methods used in the paper。ChapterⅡ:Discussion of the corporate governance and institutional investors。ChapterⅢ:make the study of the mechanism and performance of institutional investors' intervening in the corporate governance。Firstly, analyzes the mechanism of institutional investors' intervening in the corporate governance through the study of rational decision-making model,behavior games model and the manners of institutional investors' intervening in the corporate governance;Then,analyzes the performance of institutional investors' intervening in the corporate governance through the effect of institutional investors' on listed company and the benefit and cost of intervening in the corporate governance。ChapterⅣ:Study of the status quo of China's corporate governance and institutional investors。Summarize the problems of China's institutional investors intervening in the corporate governance through the analysis of the present situation about China's corporate governance and institutional investors。ChapterⅤ:Study the effect of China's institutional investors on corporate governance from the angle of demonstration。Analyzes the correlation of corporate governance and institutional investors through linear regression on the ratio of institutional shareholdings and performance of listed companies。ChapterⅥ:Consideration of construction of the governance system dominated by institutional investors。The paper puts forward the scheme of construction of the governance system dominated by institutional investors in China based on the analysis the necessity of improvement of corporate governance through developing institutional investors。...