The Research Of Performance Managed By The Institutional Investors

The development of the securities market is a process of continuous self-improvement.As the main role in securities market,institutional investors are increasing. With the development of institutional investors in the company increased, they began to actively participating in corporate governance. Compared with individual investors, institutional investors have abundant funds, professional, quick access to information, to supervise the company management, improving corporate governance, improve enterprise performance contribution. In recent years, China began to pay attention to institutional investors.The government put forward the program"to develop institutional investor above the common run in 2000. After continuous efforts of these years, the right of supervision and control of institutional investors in corporate governance began to play an increasingly important role. At the same time, China’s Third Plenary Session of eighteen proposed to develop a mixed ownership economy,to promote the reform of state owned enterprises. Among these, the institutional investors to participate in corporate holdings is a worthwhile pattern. The case of Ping An M&A Shanghai Jahwa is a result responsed to the call of our country..As a pilot reform of state-owned enterprises,this M & A behavior has been recognized by the industry. However, as the institutional investor,during the time taking part in Ja Hwa’s corporate governence,.got a lot of negative news, which let the public and investors feel badly.In this paper, based on the concept of the institutional investors to participate in corporate governance and the theory. According to the different treatment in China,analysis the case of Shanghai Jahwa at different stages. In the course of the study, summed up the cause of Shanghai Jahwa peace of mergers and acquisitions, &mergers and acquisitions after the change of Shanghai Jahwa equity structure &safe decided to replace reaction media and small and medium-sized shareholders of Shanghai Jahwa level.At the same time, through the event study method to verify the safe to replace high-level decision will have an impact on the capital market and to verify whether the implementation of the peace.The acquisition of the commitment principle, strategy goal, Shanghai home in 2011 after the investment behavior and the disposal of assets is analyzed.Through the study can be found: the corporate governance of institutional investors to participate in Chinese peace Shanghai Jahwa, does provide some help for the reform of the system of our country, such as the establishment of a sound internal control etc..But there are also contrary to purchase commitment principle, not replace Jahwa high-level influence enterprise value problem.Through this research, we can draw the following structure:when institutional investors to become the largest shareholder of a company as a "risk of internal control", the relevant laws and regulations of China’s institutional investors participate in the corporate governance construction is still not complete, institutional investors still have deficiencies need to be improved. Our domestic institutional investors to participate in corporate governance research still need to devote more time and energy.In this paper,as it is a case study, so it cannot totally fit for all institutional investor participation in corporate governance.And, in terms of access to information, some need to ge t to the bottom of the content due to the lack of access to relevant information and data analysi s is more coarse. With writing time is limited and my own level of restrictions, there maybe la ck of logic in this paper.