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Authordc.contributor.authorÁlvarez Espinoza, Roberto 
Authordc.contributor.authorJara, Mauricio 
Authordc.contributor.authorPombo, Carlos 
Cita de ítemdc.identifier.citationSeries Documentos de Trabajo No. 469, pp. 1 - 48, Septiembre, 2018es_ES
Abstractdc.description.abstractThis paper examines the relation between firm investment ratios and institutional blockholders for a sample of 6,300 publicly traded firms in 16 large emerging markets for the 2004–2016 period. Results show that independent, long-term, and local institutional investors boost investment ratios, which is consistent with the monitoring role and blockholder voice intervention hypotheses. The presence of institutional blockholders, regardless of their monitoring involvement, reduces firm cash flow sensitivity ratios and thus reduces firms’ financial constraints. Minority institutional investors complement the positive effect of blockholders investors. However, the effect on financial constraints decreases as the quality of the country's institutions increases.es_ES
Publisherdc.publisherUniversidad de Chile. Facultad de Economía y Negocioses_ES
Type of licensedc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
Link to Licensedc.rights.uri*
Sourcedc.sourceSeries Documentos de Trabajoes_ES
Keywordsdc.subjectInstitutional Investorses_ES
Keywordsdc.subjectCorporate Investmentes_ES
Keywordsdc.subjectFinancial Constraintses_ES
Keywordsdc.subjectCorporate Governancees_ES
Keywordsdc.subjectEmerging Marketses_ES
Títulodc.titleDo institutional blockholders influence corporate investment? evidence from emerging marketses_ES
Document typedc.typeDocumento de trabajo

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Attribution-NonCommercial-NoDerivs 3.0 Chile
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 Chile