Are Passive Institutional Investors Engaged Monitors or Risk-Averse Owners? : Both! /

We differentiate the effects of passive institutional investors, which mainly refer to index funds that adopt a passive portfolio strategy, on firms' innovation activities and innovation strategies. Relying on plausibly exogenous variation in passive institutional ownership generated by Russell...

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Bibliographic Details
Main Author: Yang, Yuanchen
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2021.
Series:IMF Working Papers; Working Paper ; No. 2021/158
Subjects:
Online Access:Full text available on IMF