The Research On The Influence Of Heterogeneous Institutional Investors On Financial Performance Of Listed Companies

Institutional investors are not the same as individual investors "vote with their feet",to supervise the company’s operation and management,effectively prevent the board of directors and managers occupy the interests of minority shareholders,can better realize the value of the company and long-term development.But in the analysis and study of the past often will analyze the institutional investors as a whole,ignored the existence of the heterogeneity of institutional investors,this research is not comprehensive,for institutional investors is not accurate.For institutional investors in the heterogeneity of heterogeneous institutional investors in the study,general with between institutional investors and investment company whether there is a direct or indirect business dealings for the Angle of view,the heterogeneous institutional investors are divided into "pressure sensitive" institutional investors and "stress inhibited type" institutional investors,respectively analysis of these two kinds of foreign institutional investors play a different role in corporate governance,and impact on financial performance of.This article first introduces the research background,research significance and combed the literature at home and abroad and related theoretical basis,and the second chapter to meaning,classification and characteristics of foreign institutional investors,and expounds the meaning of financial performance,the evaluation system and influencing factors.The third chapter will foreign institutional investors influence on financial performance are analyzed in theory,from the theoretical level,respectively,of foreign institutional investors to explore the effects of the different financial performance,and considering the location factors of foreign institutional investors affect the effects of financial performance,discuss respectively in different parts of the heterogeneous institutional investor’s impact on financial performance.Chapter 4,2011-2015 financial data of all a-share listed companies as samples,the selection of foreign institutional investors holding as independent variables,the sum of financial performance indicators as dependent variable,the design model and descriptive statistics,through the regression model of heterogeneous institutional investors ownership and financial performance indicators for the sum of the empirical analysis,research heterogeneous institutional investors and the relationship between the financial performance of listed companies,the article make A summarize and put forward opinions and the result of the empirical.Through this article research,from the theory and practice in a more comprehensive study of foreign institutional investors,as foreign institutional investors contribute to better improve the company’s financial performance.