Institutional Activism in Corporate Governance Qualified Foreign Ins
Using both qualitative and quantitative methods, this book examines whether qualified foreign institutional investors (QFIIs), through their shareholder activism, have a meaningful positive impact on the corporate governance of firms listed on the mainlan
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Institutional Activism in Corporate Governance Qualified Foreign Institutional Investors in China
Institutional Activism in Corporate Governance
Wenge Wang
Institutional Activism in Corporate Governance Qualified Foreign Institutional Investors in China
Wenge Wang Anshan, Liaoning, China
ISBN 978-3-030-19576-2 ISBN 978-3-030-19577-9 (eBook) https://doi.org/10.1007/978-3-030-19577-9 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Acknowledgements
This research project has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 702189. The author would like to thank the European Union’s Horizon 2020 research and innovation programme for having funded this research project. The author would also like to thank Professor Andrew Johnston for his comments and suggestions.
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Contents
Part I Introduction
1
1 Description of the Research 3
Part II Capital Globalization and Institutional Activism: Foreign Institutional Investors in Emerging Economies
17
2 Institutional Investment and Integration of Global Capital System 19 3 QFIIs’ Institutional Activism in Emerging Economies 43
Part III The Mechanisms of Institutional Activism: The West and China Compared 67 4 The Mechanisms of Institutional Activism in the US and Europe 71 vii
viii Contents
5 The Mechanism of QFIIs’ Institutional Activism in China 91
Part IV The Capacity and Motivation for Institutional Activism: QFIIs in China
123
6 QFII’s Capacity for Institutio
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