Institutional investors’ horizons and bank transparency
Mamiza Haq,
Shams Pathan,
Carlos Fernandez Mendez
et al.
Abstract:We examine the relation between institutional investors’ horizons and bank transparency. The novelty of this research is to consider three important aspects of transparency: disclosure quality, private information gathering and auditor fees. We find strong evidence indicating that banks dominated by long‐term (short‐term [ST]) institutional shareholders exhibit higher (lower) levels of disclosure quality. However, there is no evidence that investor horizon has a differential effect on private information gathe… Show more
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