Study On The Influence Of Institutional Investor Shareholding On Enterprise Performance

With the development and improvement of capital market,institutional investors are growing,gradually developed as the main body of investment activities,become the dominant force of the capital market,institutional investors by constantly buying the equity of listed companies to participate in corporate governance,the exercise of supervision advice,but institutional investors can really play supervision and management utility,can stable holding equity to promote into the enterprise performance has not yet formed a consistent conclusion.In the fierce market competition,enterprises continue to increase research and development efforts,in order to stabilize the market position,seize market share,improve enterprise performance,and at the same time to attract all kinds of capital with high level of research and development,to provide sufficient funds for the development of enterprises.Institutional investors also play an irreplaceable role in this process.Based on this,this paper studies the relationship between institutional investors’ shareholding and enterprise performance.This paper is based on the existing domestic and foreign literature and basic theory put forward the relevant influence mechanism and research hypothesis,select the gem listed companies as a research sample,the time span of 2013-2021,using the multiple linear regression model to analyze the relevant data,further study the relationship between heterogeneous institutional investors holding and enterprise performance.The study found that: First,Institutional investors’ shareholding has a positive promoting effect on enterprise performance,The involvement of the institutional investors,Can enable enterprises to obtain broader information,More professional investment decision advice,To further improve the accuracy of business decisions,Promote enterprise performance improvement;next,This conclusion is even more pronounced in the pressure-resistant group of institutional investors,This may be determined by the group characteristics,For example,a strong financial strength,a professional investment team,The pursuit of long-term interests;last,After inspection,it is found that the R & D investment of enterprises plays part of the intermediary effect between institutional investors’ shareholding and enterprise performance,Further testing revealed that R & D investment had a partial intermediary effect between stress-resistant institutional investors and corporate performance,But there is no link between pressure-sensitive institutional investors and corporate performance.Based on the above conclusion,this paper proposes the following policy suggestions:first,to cultivate long-term investment concept to help the healthy development of enterprises;second,to pay attention to the differences of institutional investors and optimize the ownership structure of enterprises;third,to encourage enterprises to develop and innovate,and attract institutional investors for investment;fourth,to improve China’s capital market and create a good investment environment.