机构持股

已有的国外研究中，相对多数的研究结论指出，机构持股的行为对上市公司的公司治理以至业绩有着明显的促进作用。

In the research from abroad , most of the findings specified in the behavior of institutional holdings has a significant role in promoting corporate governance of listed companies and even the performance .

上市公司特征与IPO折价的实证研究不同机构持股比例下的上市公司特征

An Empirical Research on the Association between Firm Characteristics and IPO Underpricing The Listed Companies ′ Features Comparison with Different Institutional Investors ′ Share-holding Proportion

机构持股对上市公司投资者关系管理影响研究

The Influence of Institutional Investors ' Share-holding on Investor Relationship Management

组织机构持股状况等非财务指标对企业声誉表现出了出乎预料的重要影响。

Institutional ownership shows an unexpected important influence on corporate reputation .

机构持股、中小投资者保护与会计盈余质量

Institutional Ownership , Minority Investor Protection and Accounting Earnings Quality

美国实行个人直接持股与多种机构持股共占主体的股份制度。

In America the stockholders are mostly of individual and multi institutional .

实证研究结果表明，在不同市场情形下，机构持股存在明显差异。

The empirical results show that the preferences are different under different market situations .

不同控制模式下差异化渠道中的价格形成机制及其稳定性信息不对称、机构持股与价格稳定性

Price formation mechanisms and its stability in channel with differentiated product under different control pattern

本研究以1999～2002年深市A股为样本，研究发现，在样本时间区间内会计信息相关性与机构持股比例相关性不明显；

Studies of Shenzhen-listed A-shares data 1999-2002 find that correlation is loose between accounting information and institutional investors .

银行家们愈发担心，机构持股者出于对监管规则不确定性的恐惧，而开始丧失信心。

Bankers are growing worried that institutional shareholders , spooked by regulatory unpredictability , will start to lose faith .

西方国家的股票所有结构主要可划分为两大类：一类是以机构持股为主，美国和大多数西方国家都属于这一种；另一类以法人持股为主，其代表是日本。

The equity ownership structure in western world can be divided into two categories : one is based on institutional stockholding , the other on corporate stockholding .

文章以2001~2004年我国发生控制权转移的上市公司为样本，研究了控制权转移前后机构持股对公司治理的作用。

Based on the data of corporate control transfer in China from 2001 to 2004 , this article emphasizes how institutional shareholders affecting corporate control transfer of listed companies .

以上结果表明，上市公司正是在股权分置改革的作用下，从股权集中、股权制衡以及机构持股者三方面优化了自身的股权结构。

These results show that the listed company is in the role of non-tradable share reform , and optimized their ownership structure from the three aspects of ownership concentration , shareholder equity , and institutional checks and balances .

这比起传统意义的基于公司层面的机构持股对公司监督的研究，进一步表明在我国机构投资者确实已经参与到公司治理中了，至少对他们组合中相对重要的公司起到了一定的监督作用。

This compared to study of the firm-level , further evidence that in China have been involved in corporate governance , at least relative to the important company in their portfolio , the institutional investors played a key supervisory role .

在内部财务治理环境中，影响公司财务治理的主要因素有：机构持股、第一大股东持股、债权人治理、高管薪酬和独立董事制度。（7）上市公司财务治理与外部环境密切相关。

The main factors of internal financial governance are institutional ownership , the largest shareholders , creditors , manager , executive compensation and independent directors . ( 7 ) Financial governance of listed companies is closely related to the external environment .

结果表明上市公司在完成股权分置改革以后，其代理成本呈逐步下降的趋势；股权集中度呈上升趋势；股权制衡度呈下降趋势；机构持股比例呈上升趋势。

The results show that the listed company after the completion of share reform , which showed a gradual decline in agency costs ; ownership concentration the rise ; equity degree of checks and balances decreased ; upward trend in the proportion of institutional ownership .

而在我国特殊的制度环境下，上市公司股权集中有利于抑制代理成本的产生，股权制衡却未能起到其应有的制衡作用，机构持股者对代理成本有显著的抑制作用。

In the special system environment of China , the listed company focused on help inhibit the agency shares the cost of production , stock checks and balances has failed to play its proper checks and balances , institutional holders on the agency costs are significantly inhibited .

此外，从资本的角度看，新的《巴塞尔协议iii》（baseliii）中的银行业监管规则意味着，对其他金融机构的持股变成了一项成本大大增加的投资。

On top of this , the New Basel III banking rules make equity stakes in other institutions a much more costly investment from a capital point of view .

综合来说，本文的研究成果如下：1、选取了上市公司业绩（ROE，RPS，NAS）作为上市公司的业绩表现指标，发现机构投资者持股能够改善上市公司的业绩表现。

We selected the performance of listed companies ( ROE , RPS , NAS ) as indicators of the performance of listed companies and found that institutional ownership improve the company performance .

机构投资者持股与资本支出决策关系的实证

Empirical Research of the Relation between Institutional Investor shareholding and Capital Expenditure

机构投资者持股与公司绩效正相关。

Institutional Ownership is positively related to corporate performance .

机构投资者持股与企业多元化战略关系研究

The Relationship between Institutional Ownership and Corporate Diversification Strategy

没有一家机构投资者持股超过3%的须披露股权界限。

No institutional investor holds more than a 3 per cent disclosable stake .

国际化经营企业的经营业绩与机构投资者持股比例正相关。

It is positive correlation between the level of international operations and corporate performance .

由于本文是对机构投资者持股和企业投资约束进行研究，因此文献综述也就从这两个方面展开。

Literature is reviewed from the holdings of institutional investors and enterprise investment two areas .

此外，外资刚刚开始在中国金融机构中持股。

Moreover , foreigners have only just started to take stakes in Chinese financial institutions .

机构投资者持股对信息披露质量相关性研究

The Research on the Relationship between Institutional Ownership and the Quality of Disclosure of Information

我们还进一步研究了公告效应与股东集中度、机构股东持股以及发行价折扣的关系。

We also studied relationship between excess returns and ownership concentration , institutional ownership and price discount .

通过实证分析揭示了机构投资者持股能提高上市公司信息披露透明度。

Analysis revealed by institutional investors holdings can improve the transparency of information disclosure of listed companies .

机构投资者持股与上市公司创新行为关系实证研究

An Empirical Study on Relationship Between the Stock Holdings of Institutional Investors and Companies ' Innovation Activity