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THE IMPACT OF INSTITUTIONAL SHAREHOLDING ON FIRM INCOME INSTABILITY RISK: EVIDENCE FROM FINLAND
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Michael Graham, Alfred Yawson 
Abstract
We empirically examine the effect of institutional shareholding on firm risk-taking, narrowly defined. We categorize institutional shareholding into those with both investment and business relationships with the firms in which they own equity stakes (termed pressure-sensitive institutions), and institutions with only an investment relationship with the firm (termed pressure-resistant). The results suggest a differential impact of different institutional investors on firm risk-taking.
Keywords: Corporate Governance, Institutional Investors, Risk-Taking, Income Instability Risk
How to cite this paper: Graham, M., & Yawson, A. (2007). The impact of institutional shareholding on firm income instability risk: Evidence from Finland. Corporate Ownership & Control, 4(3-2), 279-286. https://doi.org/10.22495/cocv4i3c2p5
