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  • Influence of Institutional Investors on Listed Tourism Companies' Performance: An Empirical Case from China

    Author(s)
    Wang, Caiping
    Xu, Honggang
    Scott, Noel
    Ding, Peiyi
    Griffith University Author(s)
    Scott, Noel R.
    Ding, Peiyi
    Year published
    2014
    Metadata
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    Abstract
    This study investigates the influence of institutional investors on corporate performance in institutional environments having different degrees of government intervention using data from Chinese listed tourism companies for the years 2001 to 2011. The results show that the influence of institutional investors on listed tourism companies' performance depends on the degree of government intervention in the sector. It is therefore concluded that market-based tools may be effective in developed economies, but not in countries with transitional economies such as China. This is because the required market and operational environment ...
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    This study investigates the influence of institutional investors on corporate performance in institutional environments having different degrees of government intervention using data from Chinese listed tourism companies for the years 2001 to 2011. The results show that the influence of institutional investors on listed tourism companies' performance depends on the degree of government intervention in the sector. It is therefore concluded that market-based tools may be effective in developed economies, but not in countries with transitional economies such as China. This is because the required market and operational environment are not available. Improved performance requires market reform to decrease government intervention in the business operations of listed tourism companies and to improve the effectiveness of institutional monitoring in their corporate governance.
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    Journal Title
    Journal of China Tourism Research
    Volume
    10
    Issue
    3
    DOI
    https://doi.org/10.1080/19388160.2014.897285
    Subject
    Tourism
    Tourism management
    Publication URI
    http://hdl.handle.net/10072/63635
    Collection
    • Journal articles

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