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This study investigates the governance role of qualified foreign institutional investors (QFIIs) by focusing on informed trading as a governance mechanism, different from traditional mechanism of ownership concentration. Focusing on all 134 real estate companies listed in Shanghai and Shenzhen stock exchanges during the period from 2003 to 2011, this study collected data for all of the 428 available QFIIs’ investment portfolios. This study finds the conditional effects of QFIIs’ trading in mitigating principal-principal conflicts in emerging markets.

Research Supervisors

• Dr. Paul Greenhalgh
• Dr. Xiaoxiang Zhang (University of Sussex)

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