How do institutional investors facilitate reporting comparability? Evidence from common institutional ownership in the United States

• Main Authors: LI, Xuanbo, LOU, Yun, WANG, Rencheng, ZHOU, Kaitang
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2025
• 主題: blockholders; common ownership; cross ownership; financial reporting comparability; institutional investors; spillover effects; Accounting; Finance and Financial Management
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/2080; https://ink.library.smu.edu.sg/context/soa_research/article/3107/viewcontent/ssrn_5182827_sv.pdf

We examine how common institutional investors (CIIs) facilitate the financial reporting comparability (FRC) of US firms. Common ownership increases FRC of firms that are directly owned by CIIs (via a direct effect) and has positive spillover effects on other firms in the same industry. We find spill...