Behavioural biases of Japanese institutional investors: Fund management and corporate governance

Megumi Suto*, Masashi Toshino

*この研究の対応する著者

    研究成果: Article査読

    29 被引用数 (Scopus)

    抄録

    This study examines the behavioural biases of Japanese institutional investors and discusses implications for their role in corporate governance, based on the findings of a questionnaire survey of fund managers carried out in 2003. Statistical analysis of the survey results reveals a short-term bias in fund managers' investment time horizons, herding and self-marketing to improve the appearance of portfolio performance under the pressure either of customers or of institutional restraints. We conclude that institutional investors' behaviour contradicts their role as shareholders.

    本文言語English
    ページ(範囲)466-477
    ページ数12
    ジャーナルCorporate Governance
    13
    4
    DOI
    出版ステータスPublished - 2005 7

    ASJC Scopus subject areas

    • 技術マネージメントおよび技術革新管理
    • 戦略と経営
    • ビジネス、管理および会計(全般)

    フィンガープリント

    「Behavioural biases of Japanese institutional investors: Fund management and corporate governance」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

    引用スタイル