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Institutional Investors and Institutional Environment: A Comparative Analysis and Review
Author(s) -
Johnson Richard A.,
Schnatterly Karen,
Johnson Scott G.,
Chiu ShihChi
Publication year - 2010
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.2010.00930.x
Subject(s) - corporate governance , institutional investor , field (mathematics) , institutional analysis , accounting , business , sociology , finance , social science , mathematics , pure mathematics
We provide a review of the literature surrounding institutional investor classifications, and we extend this research by examining the aforementioned classification systems and relate this to the three predominant financial systems (market‐based, family‐centred, and bank‐centred systems). After integrating this literature we propose that future research can contribute to the corporate governance field in three main ways: through improved measurement of the central constructs, through more complex research designs (through moderated and/or longitudinal relationships), and through asking new types of questions. We suggest several questions and approaches for future research on institutional investors and their interrelationship with country financial systems.