ABSTRACT
This paper examines the impact of institutional ownership on merger and acquisition (M&A) performance of Chinese listed firms from 2006 to 2017. The results indicate that institutional ownership positively affects M&A performance, and so does institutional ownership concentration. Moreover, the results suggest that pressure-sensitive, large, and domestic institutional ownership have a greater positive effect on M&A performance than pressure-insensitive, small, and foreign institutional ownership.
Disclosure statement
No potential conflict of interest was reported by the author.
Notes
1 In the sample of this study, the mean value of total institutional ownership is 34.75%, while the mean value of pressure-insensitive, small, and foreign institutional ownership is 7.76%, 11.23%, and 0.14%, respectively.