Abstract
Institutional investors should not be treated as homogeneous group of
investors. One of the contributions of the study to the existing literature
on ownership structure is the empirical verification of the role played
by different institutional shareholders in Pakistan. The study considers
estimation of panel data model on a total sample of 247 non-financial
firms over a period of ten years i.e. from 2006 to 2015. Empirical
evidence from diversified industries that include textile, sugar and
allied, food and personal care-products, chemical, cement, auto, power
generation and distribution, and miscellaneous confirm that only NIT
play a significant and positive role in enhancing firm-level governance
mechanisms. The findings from this study assist the regulators and the
policy makers in redesigning the provisions of code of corporate
governance that can ensure better governance at corporate level in
Pakistan.
Maryam Jabeen, Shahid Ali. (2017) Exploring the Relationship between Institutional Shareholders’ Heterogeneity and Firm-Level Governance Practices: Evidence from Pakistan’s Non-Financial Industries, Journal of Managerial Sciences, Volume 11, Issue 2.
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