Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective

19 Pages Posted: 10 Jan 2005

See all articles by Stuart Gillan

Stuart Gillan

University of Georgia - Department of Finance

Laura T. Starks

University of Texas at Austin - Department of Finance

Multiple version iconThere are 2 versions of this paper

Abstract

We examine the relation between corporate governance and ownership structure, focusing on the role of institutional investors. In many countries, institutional investors have become dominant players in the financial markets. We discuss the theoretical basis for, history of, and empirical evidence on institutional investor involvement in shareholder monitoring. We examine cross-country differences in ownership structures and the implications of these differences for institutional investor involvement in corporate governance. Although there may be some convergence in governance practices across countries over time, the endogenous nature of the interrelation among governance factors suggests that variation in governance structures will persist.

JEL Classification: G30, G34, G22, G23

Suggested Citation

Gillan, Stuart L. and Starks, Laura T., Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective. Journal of Applied Finance, Vol. 13, No. 2, Fall/Winter 2003. Available at SSRN: https://ssrn.com/abstract=480983

Stuart L. Gillan

University of Georgia - Department of Finance ( email )

Terry College of Business
Athens, GA 30602-6253
United States

Laura T. Starks (Contact Author)

University of Texas at Austin - Department of Finance ( email )

Red McCombs School of Business
Austin, TX 78712
United States
512-471-5899 (Phone)
512-471-5073 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
2,157
Abstract Views
18,557
rank
376
PlumX Metrics