Local institutional investors and corporate monitoring: Evidence from cross-listed Korean stocks in the US market

• Main Authors: CHOI, Changhwan, CHUNG, Chune Young, SONG, Jun Myung
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2024
• 主題: Corporate governance; Cross-listed firms; Earnings management; Geographic proximity; Market proximity; Finance; Finance and Financial Management
• 在線閱讀: https://ink.library.smu.edu.sg/skbi/36; https://ink.library.smu.edu.sg/context/skbi/article/1035/viewcontent/Local_Institutional_Investors_and_Corporate_Monitoring_Evidence_from_Cross_Listed_Korean_Stocks_in_the_US_Market.pdf

Using Korean firms that are cross-listed in the US market, this paper investigates whether there are standalone effects of geographic and market proximity of institutional investors on monitoring performance. We find that Korean institutional ownership is negatively associated with earnings manageme...