دانلود مقاله ISI انگلیسی شماره 97219
ترجمه فارسی عنوان مقاله

سرمایه گذاری نهادی خارجی، گروه های تجاری و عملکرد شرکت: شواهد از هند

عنوان انگلیسی
Foreign institutional investment, business groups and firm performance: Evidence from India
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
97219 2017 12 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Research in International Business and Finance, Volume 39, Part A, January 2017, Pages 454-465

پیش نمایش مقاله
پیش نمایش مقاله  سرمایه گذاری نهادی خارجی، گروه های تجاری و عملکرد شرکت: شواهد از هند

چکیده انگلیسی

The article tries to examine the relationship between equity ownership held by the foreign institutional investors and firm performance both in a static and a dynamic framework. We also examine how the relationship differs between group-affiliated and stand-alone firms. By employing the 2SLS panel data estimation technique on 137 BSE listed Indian firms, the study finds that foreign institutional investment has a positive influence on the firm performance as measured through Tobin’s Q and ROA.Application of linear dynamic panel data estimation in a dynamic framework also yields similar results.The latter method also shows that FII has a positive significant effect on Tobin’s Q in group-affiliated firms. The results are analysed from the perspective of a multi-theoretic approach consisting of agency theory, information asymmetry theory, institutional theory and resource dependency theory.