| Since the 20th century 80 years, the"institutional investors and corporate governance"has become an important topic in the agenda of corporate governance reform. Institutional investors of western developed countries has a far-reaching impact on corporate governance from the early adherence to the"wall street standards,"the negative voting gradually into"hand-vote,"a positive way, triggering a new round of global corporate governance reform. In recent years, foreign institutional investors participate actively in corporate governance, more and more cases, and foreign institutional investors participate in corporate governance have matured, the role of its inestimable. Along with extraordinary, creative development of institutional investors, institutional investors growing, China should actively guide the institutional investors to participate in governance of listed companies, in order to improve the capital market, to protect the interests of small investors to play an important role.First, this article defines the meaning of institutional investor and corporate governance, analysis and summaries the negative and positive theory of institutional investors in corporate governance which theory circle's opinion, and analysis the motivation of foreign institutional investors participating in corporate governance. We should support the conclusions which institutional investors actively involve in corporate governance. Secondly, the status of China's institutional investors participating in corporate governance is introduced that China's institutional investors, shareholder activism on the rise, and the initative of all types of institutional investors participating in China's corporate governance are compared, in order to point out to China direction. Again, this paper makes a international comparison with the role of institutional investors in corporate governance, representatives of the United State and Japan, and point out that the regulation changes of the institutional investors involving in corporate governance of two countries, which should be our reference. Finally, proposes China's institutional investors to play an active participating in corporate governance measures.The innovation of this paper is that analysis both positive and negative theoretical of institutional investors in corporate governance, compare the United States and Japan models which are two corporate governance models, and detailed descript the regulation changes of the United States and Japan on institutional investors. Meanwhile, combing with our present situation, make our institutional investors on how to play a role in corporate governance in order as soon as possible to achieve"institutional investors truly become the cornerstone of China's stock market advance"target. |
