文献类型：期刊文献

英文题名：The stock-picking ability of institutional investors and corporate information transparency

作者：Tang, Songlian[1]

机构：[1] School of Business, East China University of Science and Technology, School of Business, Shanghai, China

年份：2010

起止页码：2347

外文期刊名：Proceedings of the International Conference on E-Business and E-Government, ICEE 2010

收录：EI(收录号：20104913459440)

语种：英文

外文关键词：Investments - Information management

摘要：In this paper, using listed companies from 2004 to 2007 in Shenzhen Stock Exchange as samples, we test whether institutional investors concerned about the companies' information transparency combining with static and dynamic methods. It finds that: (1) when the companies' information transparency rating is high or increasing, the proportion of institutional ownership is higher and the number of institutional investors is larger, or institutions investors would increase the shareholding and the number of institutional investors;(2)when the companies' information transparency rating is high or increasing, the proportion of short-term institutional ownership is higher or it would increase the shareholding ;(3)when the companies' information transparency rating is high, the proportion of long-term institutional ownership is higher. But long-term institutional investors may not adjust their shareholding on basis of information transparency rating change. ? 2010 IEEE.