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    Institutional Investors, Political Connections and Analyst Following in Malaysia

    248642.pdf (288.5Kb)
    Access Status
    Open access
    Authors
    How, J.
    Verhoeven, P.
    Abdul Wahab, Effiezal Aswadi
    Date
    2014
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    How, J. and Verhoeven, P. and Abdul Wahab, E.A. 2014. Institutional Investors, Political Connections and Analyst Following in Malaysia. Economic Modelling. 43: pp. 158-167.
    Source Title
    Economic Modelling
    DOI
    10.1016/j.econmod.2014.07.043
    ISSN
    0264-9993
    School
    School of Accounting
    URI
    http://hdl.handle.net/20.500.11937/49618
    Collection
    • Curtin Research Publications
    Abstract

    We examine the association between institutional ownership, political connections, and analyst following in Malaysia from 1999 to 2009. Based on 940 firm-year observations, we document a positive relation between institutional ownership, particularly by Employees Provident Fund (EPF), and analyst following, thus supporting the governance role that institutional investors play in promoting corporate transparency. However, there is no evidence that political connections matter to analyst following. The monitoring role of institutional investors, including EPF, does not appear to be any different between politically connected and non-connected firms.

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