institutional holdings
Recently Published Documents


TOTAL DOCUMENTS

60
(FIVE YEARS 5)

H-INDEX

12
(FIVE YEARS 0)

2021 ◽  
Vol 22 (3) ◽  
pp. 36-38
Author(s):  
Jane C. Duffy

The Organisation for Economic Cooperation and Development (OECD) is an international organization that measures and documents trends, economics and socio-political issues arising within its member countries. Its primary publication, the OECD iLibrary, facilitates, collates, and makes easily navigable collaborative research from across various international sectors, regional boundaries and interests. It is also possible to search this database by national affiliations as well. Researchers may access contents via theme, content type or format, or by country. Content is made available in several common formats: PDF, ePub, WEB, READ, CHART, DATA, XLS, CSV, and others. Over 60 million e-books, articles, statistical analyses and projections are on offer from over 80 countries through this database. The search and discovery experience is enhanced by the content’s interface design and value-add services such as temporary storage My Favorites. Authentication across a variety of options is available, and purchase and contract provisions are negotiable by institutional profile. For the Librarian manager, MARC records in two formats are provided for all content to facilitate ready integration with other institutional holdings.


Art History ◽  
2020 ◽  
Author(s):  
Matthi Forrer

While the best-known Japanese artwork is the iconic “Great Wave,” less known is that this was a creation of the artist Hokusai. Even more surprising is the fact that the artist was seventy years of age when he designed the print. Hokusai had already been working as an artist for fifty years, training many pupils, including two of his daughters, and enjoying followers even in far-away Osaka. This article focuses on research concerning the life and works of the Japanese artist Katsushika Hokusai (b. 1760–d. 1849) from an art historical perspective. The three main sections are preceded by a discussion of the various sources for a biography of Hokusai (The Life of the Artist). Biography is followed by a review of his oeuvre, starting with his illustrations of various kinds of books (Hokusai’s Oeuvre in the Format of Books). We still lack a full bibliographic overview of all the books that Hokusai composed, illustrated, or where he contributed designs for illustrations, let alone an adequate catalogue of the various editions and how to distinguish them. This is followed by a discussion of his works in the format of single prints, mostly organized according to his six main periods of activity, each associated with one of his six names, Shunrō, Sōri, Hokusai, Taito, Iitsu, and Manji (Hokusai’s Oeuvre in the Format of Prints). Scholars and students still await a catalogue raisonné, like the Bartsch or Hollstein volumes, that inventories all the known—primarily German and Dutch—woodblock prints, copperplates, and etchings, organized by school and artist. Most people who are engaged with Hokusai’s work, especially since the passing of the scholar Peter Morse, lack the proper training in art history and never heard of Bartsch or Hollstein. In the West they are often Japanologists, while in Japan they are historians, specialists of Japanese literature, and in so far as they have training as art historians, this background is still quite different from the Western tradition. However, now many Western institutional holdings have become accessible online, facilitating further study but, no Japanese ones. For Hokusai’s early period, especially, problems remain concerning works with signatures that can either be identified with Hokusai or with his pupils. The discussion of Hokusai’s works concludes with his paintings (Hokusai’s Painted Oeuvre) and his preparatory sketches for either prints or book illustrations. In fact, this is the most problematic part of Hokusai’s oeuvre where consensus will not occur until a new methodology of research is accepted. At present, there are two museums devoted to Hokusai in Japan: the Hokusai Museum in Obuse, Nagano Prefecture; the recently opened Sumida Katsushika Hokusai Bijutsukan in Tokyo, whereas the holdings of the Katsushika Hokusai Museum of Art in Tsuwano, that is the Nagata Seiji collection, was bequeathed to the Shimane Prefectural Museum after his untimely death in 2018. There is also a magazine devoted to Hokusai research, the Hokusai kenkyū, volumes 1–56 (Tokyo: Hokusaikai, Kazusa Museum and Sumida Arts Foundation, 1972–2016.


2020 ◽  
Vol 8 (1) ◽  
pp. 12
Author(s):  
Thao Nguyen ◽  
Hui Li

This paper investigates the relationship between dividend payout and institutional ownership for all Australian listed firms in the period between 2001 and 2015. In our univariate tests, we find that institutional investors, in general, prefer dividend-paying firms more than non-paying firms, and for the dividend-paying firms in our sample, institutional investors hold more shares in the firms who pay higher dividends. We further explore the causality between dividend payout and institutional ownership in our multivariate tests with our panel data. The results show an insignificant effect of institutional ownership (dividend payout) on the future dividend payout (institutional ownership) while controlling for firms’ fundamentals, that a higher dividend yield does not attract more institutional investors and that there is no catering to Australian institutional investors.


2019 ◽  
Vol 61 (3/4) ◽  
pp. 457-484
Author(s):  
Senthil Arasu Balasubramanian ◽  
Radhakrishna G.S. ◽  
Sridevi P. ◽  
Thamaraiselvan Natarajan

Purpose This paper aims to develop a corporate financial distress model for Indian listed companies using financial and non-financial parameters by using a conditional logit regression technique. Design/methodology/approach This study used a sample of 96 companies, of which 48 were declared sick between 2014 and 2016. The sample was divided into a training sample and a testing sample. The variables for the study included nine financial variables and four non-financial variables. The models were developed using financial variables alone as well as combining financial and non-financial variables. The performance of the test sample was measured with confusion matrix, sensitivity, specificity, precision, F-measure, Types 1 and 2 error. Findings The results show that models with financial variables had a prediction accuracy of 85.19 and 86.11 per cent, whereas models with a combination of financial and non-financial variables predict with comparatively better accuracy of 89.81 and 91.67 per cent. Net asset value, long-term debt–equity ratio, return on investment, retention ratio, age, promoters holdings pledged and institutional holdings are the critical financial and non-financial predictors of financial distress. Originality/value This study contributes to the financial distress prediction literature in different ways. First, there have been, until now, few studies in the area of financial distress prediction in the Indian context. Second, business failure studies in the past have used only financial variables. The authors have combined financial and non-financial variables in their model to increase predictive ability. Thirdly, in most earlier studies, variable institutional holdings were found to affect financial distress negatively. In contrast, the authors found this parameter to be positively significant to the financial distress of the company. Finally, there have hitherto been few studies that have used promoter holdings pledged (PHP) or pledge ratio. The authors found this variable to influence business failure positively.


2019 ◽  
pp. 0148558X1987009
Author(s):  
Jengfang Chen ◽  
Charles Cheng ◽  
Catherina Y. Ku ◽  
Woody Liao

This article investigates the extent and the effectiveness of risk governance improvements in banks after the financial crisis of 2007/2008. Using a sample of 30 pairs of matched banks that were the center of the financial crisis, we find that (a) banks with lower stock performance (lower performing banks) had weaker risk governance in the year before the financial crisis than those with higher stock performance (higher performing banks), (b) those lower performing banks took corrective actions to rebuild their risk governance characteristics up to the level similar to the higher performing banks 2 years after the crisis, (c) the improvement of risk governance in the lower performing banks did not increase their institutional holdings and analyst followings, and (d) those lower performing banks that have taken corrective actions to improve risk governance have improved risk management and increased stock performance 2 years after the financial crisis.


The authors explore the effect of an employee stock ownership plan on firm value and examine the following important findings. First, they reveal that a firm with better corporate governance, such as a higher directors’ holding ratio, higher institutional holding ratio, and small board size will have better stock price performance resulting in the enhancement of firm value. Second, firms with higher institutional holdings that are implementing an ESOP actually might not enhance firm value, compared to firms with higher institutional holdings that do not implement an ESOP; this may be the result of interest and influence by institutional investors who are likely to be affected by the ESOP. The authors explain that understanding these results may be useful for investors in personal financial planning and wealth management in terms of screening investing targets.


2018 ◽  
Vol 11 (3) ◽  
pp. 53 ◽  
Author(s):  
Ching-Chih Wu ◽  
Tung-Hsiao Yang

We investigate three issues about the impact of insider trades and institutional holdings on seasoned equity offerings (SEOs). First, we test how insider trades affect the trading behavior of institutional investors in SEOs. Second, we test whose trading behavior, either insiders or institutional investors, has greater explanatory power for the performance of SEO firms after issuing new stocks. Third, we analyze the industry-wide spillover effects of insider trades and institutional holdings. Empirically, we find that insiders and institutional investors of SEO firms may utilize similar information in their transactions because insider trades induce similar trading behavior for institutional investors. In addition, insider trades, relative to institutional holdings, have greater explanatory power for SEO firm’s long-term performance. Finally, compared with insider trades, institutional holdings have a more significant spillover effect in the industry of SEO firms.


2018 ◽  
Vol 18 (1) ◽  
pp. 97-120 ◽  
Author(s):  
Jiajia Fu

ABSTRACT This study examines the role of mutual funds in the pricing of accruals in China's stock market to evaluate the sophistication of Chinese mutual funds. Using a sample of A-share stocks in China from 2003 to 2011, I find that the mispricing of accruals is concentrated in firms with large mutual fund holdings. This result differs from a number of U.S. studies documenting a positive relation between institutional holdings and stock price efficiency. In an effort to explain this result, I provide evidence that mutual funds in China fixate on earnings and fail to understand the one-year-ahead earnings implication of accruals. Specifically, I find that the persistence of accruals is overpriced in stocks with a high level of mutual fund ownership. The mispricing of accruals in these stocks is largely driven by discretionary accruals and is related to their high stock price responsiveness to earnings. JEL Classifications: M41; G12.


2018 ◽  
Vol 35 (1) ◽  
pp. 44-64 ◽  
Author(s):  
Lawrence Kryzanowski ◽  
Trang Phuong Tran

Purpose This paper aims to test the extent to which downward bias due to a floating-point exception in probability of informed trading (PIN) estimates obtained using the Easley, Hvidkjaer and O’Hara (EHO; 2002) method is remedied using the Yan and Zhang (YZ; 2012) method. The paper also aims to test the sample-size sensitivity of EHO PIN and identify PIN determinants for acquirers and targets in the biotech sector. Design/methodology/approach EHO and YZ PIN performances are compared for US biotech acquirers and targets around their mergers and acquisition (M&A) announcements. The sampling method of Kryzanowski and Lazrak (2007) is used to assess sample-size sensitivity of announcement window EHO PIN estimates. Cross-sectional regressions are estimated to identify PIN determinants. Findings EHO and YZ PIN are not significantly different. EHO PIN exhibits significant sample-size sensitivity. Information leakage prior to M&A announcements is strongly affected by some firm characteristics. Significant determinants of PIN behavior around M&A announcements include insider and institutional holdings and research and development (R&D) expense. Research limitations/implications Findings imply that PIN partially reflects the activities of insiders and other informed investors about takeover intentions. Subsequent research can examine PIN behavior around pre-announcement rumors for M&As in the same or other industries and for potential targets that are peers of the M&A targets. Originality/value This paper contributes to the ongoing debate in the empirical finance literature on whether PIN measures informed trading by examining its behavior and the importance of some methodological issues associated with its use in examining market behavior around M&A announcements.


Sign in / Sign up

Export Citation Format

Share Document