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Institutional Investors and Institutional Environment: A Comparative Analysis and Review

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  • Richard A. Johnson
  • Karen Schnatterly
  • Scott G. Johnson
  • Shih-Chi Chiu

Abstract

We provide a review of the literature surrounding institutional investor classifications, and we extend this research by examining the aforementioned classification systems and relate this to the three predominant financial systems (market-based, family-centred, and bank-centred systems). After integrating this literature we propose that future research can contribute to the corporate governance field in three main ways: through improved measurement of the central constructs, through more complex research designs (through moderated and/or longitudinal relationships), and through asking new types of questions. We suggest several questions and approaches for future research on institutional investors and their interrelationship with country financial systems. Copyright (c) 2010 The Authors. Journal of Management Studies (c) 2010 Blackwell Publishing Ltd and Society for the Advancement of Management Studies.

Suggested Citation

  • Richard A. Johnson & Karen Schnatterly & Scott G. Johnson & Shih-Chi Chiu, 2010. "Institutional Investors and Institutional Environment: A Comparative Analysis and Review," Journal of Management Studies, Wiley Blackwell, vol. 47(s2), pages 1590-1613, December.
  • Handle: RePEc:bla:jomstd:v:47:y:2010:i:s2:p:1590-1613
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    Cited by:

    1. Maureen Muller-Kahle, 2015. "The impact of dominant ownership: the case of Anglo-American firms," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 71-89, February.
    2. repec:kap:asiapa:v:34:y:2017:i:2:d:10.1007_s10490-016-9489-5 is not listed on IDEAS
    3. Christian Engelen, 2015. "The effects of managerial discretion on moral hazard related behaviour: German evidence on agency costs," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(4), pages 927-960, November.
    4. Mike W. Peng & Garry D. Bruton & Ciprian V. Stan & Yuanyuan Huang, 2016. "Theories of the (state-owned) firm," Asia Pacific Journal of Management, Springer, vol. 33(2), pages 293-317, June.
    5. Hutchinson, Marion & Seamer, Michael & Chapple, Larelle (Ellie), 2015. "Institutional Investors, Risk/Performance and Corporate Governance," The International Journal of Accounting, Elsevier, vol. 50(1), pages 31-52.
    6. Brian L. Connelly & Robert E. Hoskisson & Laszlo Tihanyi & S. Trevis Certo, 2010. "Ownership as a Form of Corporate Governance," Journal of Management Studies, Wiley Blackwell, vol. 47(s2), pages 1561-1589, December.
    7. Marc Essen & J. Oosterhout & Michael Carney, 2012. "Corporate boards and the performance of Asian firms: A meta-analysis," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 873-905, December.
    8. Abdioglu, Nida & Bamiatzi, Vassiliki & Cavusgil, S.Tamer & Khurshed, Arif & Stathopoulos, Konstantinos, 2015. "Information asymmetry, disclosure and foreign institutional investment: An empirical investigation of the impact of the Sarbanes-Oxley Act," International Business Review, Elsevier, vol. 24(5), pages 902-915.
    9. Ducassy, Isabelle & Montandrau, Sophie, 2015. "Corporate social performance, ownership structure, and corporate governance in France," Research in International Business and Finance, Elsevier, vol. 34(C), pages 383-396.

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