Foreign investment in Chinese stock market, monitoring and home bias

Anil V. Mishra, Ronald A. Ratti

    Research output: Chapter in Book / Conference PaperConference Paper

    Abstract

    ![CDATA[This paper examines corporate governance and foreign equity home bias in Chinese companies. Free float measures are employed to account for bias introduced by insider control. It is found that foreign ownership relative to free float is negatively impacted by legal persons (large domestic cross company) holdings and positively related to large foreign institutional holdings, with the implication that the latter provide a monitoring function that reduces agency problems. Foreign ownership relative to free float is negatively related to firm size, possibly due to quasi government being the primary influence over insider control.]]
    Original languageEnglish
    Title of host publicationProceedings of the First International Finance Conference by IIM Calcutta, Kolkata India, December 3-5, 2009
    PublisherIndian Institute of Management Calcutta
    Number of pages37
    Publication statusPublished - 2009
    EventInternational Finance Conference -
    Duration: 3 Dec 2009 → …

    Conference

    ConferenceInternational Finance Conference
    Period3/12/09 → …

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