The Research On The Function Of Different Types Of Institutional Investors On M&A Performance

During the past few decades,institutional investors have developed rapidly in many countries.Therefore,institutional investors have gradually be an integral part of capital market.As an emerging market,our country also started to cultivate and develop institutional investors.With the development of China's institutional investors,they play an important role in the capital market.The research on the function of institutional investors on M&A performance has become a hot research problem.The number of related research in China is limited.In this paper,the impact of institutional investors on M&A performance is be analyzed based on the merger and acquisition activity.On this basis,this paper enrich the research on the function of institutional investors on M&A performance.This paper mainly to sort out the related research at home and abroad from different angles.They lay a theoretical basis for this paper and thus raise the research hypothesis.This paper proposes three hypotheses.The calculation methods including factor analysis,descriptive analysis and regression analysis.This paper achieved following conclusions according to the results of empirical study:1.Institutional investors shareholding and M&A performance are positively to relevant relationship.2.Different types of institutional investors shareholding have a different effect on M&A performance.3.The ratio of the number of institutional investors and the first major shareholders holdings and M&A performance is positively to relevant relationship.The above research has a realistic significance.