A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Institutional Ownership and Firm Performance under Stakeholder-Oriented Corporate Governance
This study aimed to reveal the role of institutional investors with shareholder-oriented scopes in a stakeholder-oriented economy such as Japan. With financial globalization, the increasing number of institutional shareholders in Japanese corporations enables us to investigate whether their shareholder-oriented perspectives are conducive to taking on effective monitoring roles under stakeholder-oriented corporate governance. This study’s sample included large listed firms of the TOPIX 500 in Japan during 2010-2016. Using 2924 firm-year observations, the effect of institutional investors on firm performance was analyzed to test the role of institutional investors in stakeholder-oriented corporate governance. Our study showed that the monitoring role of institutional shareholders, or foreign shareholders, functions effectively in Japanese corporations. In addition, we showed that the monitoring roles of these are expected to strengthen firms through higher growth opportunities. These results implied that institutional shareholders contribute to enhancing sustainable firm performance and constructing sustainable corporate governance mechanisms in a stakeholder-oriented system.
Institutional Ownership and Firm Performance under Stakeholder-Oriented Corporate Governance
This study aimed to reveal the role of institutional investors with shareholder-oriented scopes in a stakeholder-oriented economy such as Japan. With financial globalization, the increasing number of institutional shareholders in Japanese corporations enables us to investigate whether their shareholder-oriented perspectives are conducive to taking on effective monitoring roles under stakeholder-oriented corporate governance. This study’s sample included large listed firms of the TOPIX 500 in Japan during 2010-2016. Using 2924 firm-year observations, the effect of institutional investors on firm performance was analyzed to test the role of institutional investors in stakeholder-oriented corporate governance. Our study showed that the monitoring role of institutional shareholders, or foreign shareholders, functions effectively in Japanese corporations. In addition, we showed that the monitoring roles of these are expected to strengthen firms through higher growth opportunities. These results implied that institutional shareholders contribute to enhancing sustainable firm performance and constructing sustainable corporate governance mechanisms in a stakeholder-oriented system.
Institutional Ownership and Firm Performance under Stakeholder-Oriented Corporate Governance
Hideaki Sakawa (author) / Naoki Watanabel (author)
2020
Article (Journal)
Electronic Resource
Unknown
Metadata by DOAJ is licensed under CC BY-SA 1.0
Family Control and Corporate Innovation in Stakeholder-Oriented Corporate Governance
| DOAJ | 2021
Corporate Governance and Capital Structure: Evidence from Sustainable Institutional Ownership
| DOAJ | 2020
PENGARUH OWNERSHIP STRUCTURE DAN CORPORATE PERFORMANCE TERHADAP FIRM VALUE
| DOAJ | 2018
Does Financial Leverage Mediates Corporate Governance and Firm Performance?
| DOAJ | 2022