Institutional Investors, StockMarkets and Firms' Information Disclosure
This paper argues that a mutual relationship exists between the development of institutional investors, and more specifically the development of pension funds, and the development of stock markets. It is shown that the development of pension funds promotes the development of stock markets directly through bargaining or indirectly through improving funds allocation efficiency.
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|Date of creation:||1998|
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Web page: http://www2.warwick.ac.uk/fac/soc/economics/
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