The Research On The Correlation Between Institutional Investors And Firm Value

The speed of modern economic development is hard to imagine, as the economic crisis occurred in shorter period of time, economy and society for their own orientation is not much sense of direction and sense of time, just fast forward. In developed countries, the economic level of development that other countries as a benchmark, economic or development to mature period, many scholars want to find a desired target, and associated with the index system of institutional investors can make on behalf of this area as lack of research questions. 80's from the last century, institutional investors in the world beyond the imagination of the development began in the western developed countries, institutional investors, the target company's intervention was to re-examine, starting from the past, "vote with their feet" ,this kinds of negative interference in the target company tactical operations turned to the stage needed to gain the "hands vote", the goal of enterprise strategy operators active in the way of intervention to enhance corporate value, and then get strategic interests. It is based on the premise of international environment, research related to Chinese institutional investors act to become a historic point in time.By understanding the problems in this area, we selected institutional investors, the question in this field as the theme, by reviewing the domestic and foreign scholars in the relationship between institutional investors and corporate research base demonstrated in this study the main point in the institutional investment equity ownership, connection behavior and the role of enterprise value of the relationship between the sample and test data selection, and relationship equations derived by this process to the target enterprise value and institutional investors for holding the relationship between the behavior of a demonstration. Through the intrinsic value of target companies and institutional investors holding shares of empirical research to prove in our country, institutional investors the ability to explore the value of the enterprise, ie as the value of explorers, institutional investors influence corporate value quantify what degree, the internal relations can be expressed by equation, in the process, value creation is reflected by the factors and so can be answered in this article.Building on the model, we use to collect samples of listed companies, focusing on the guiding role of the existing economic system, select the January 1sr, 2007 to 2009 December 31 that the normal range of listed companies as samples, from which 1412 sample data obtained. On this basis, will handle a good index to import SPSS, through correlation and regression curves of the relationship equation is derived to test the target company held by institutional investors come to share behavior and business relationship between the number of value creation, and finally found in the study of institutional investors and business relationship between the value of the function. The data show that institutional investors hold shares in the target company after the index will affect the enterprise value, so institutional investors come to not only discover the value of life is that those who, even worse for those who also value and founder.