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How can co-institutional investors enhance the core competitiveness of enterprises? Evidence from China

Xinyong Lu, Meinong Xi

As of 2023, institutional investors hold approximately 44.1% of the total market capitalization of China’s outstanding stocks. By simultaneously investing in multiple firms within the same industry, common institutional investors gain access to broader information channels and proprietary market insights at lower search costs. As shareholder linkages become increasingly common in the capital market, understanding their impact on firm behavior is of considerable practical relevance. This study… more