Ownership of Investment Firms and Share Price of The Listed Firm

Subject Areas : Journal of Investment Knowledge

Bahman Banimahd ¹ (Accounting Department , Islamic Azad University , Karaj Branch , Iran)
Mehdi Moradzadehfard ² (Accounting Department , Islamic Azad University , Karaj Branch , Iran)
Yaghoub Naseh ³ (Master Student of Accounting, Islamic Azad University , Alborz Science and Research Branch , Iran)

Received: 2013-07-08 Accepted : 2014-01-15 Published : 2014-01-15

Keywords: Investment Firms, Share Ownership, Share Price and Stock Exchange,

Abstract :

This paper categorize institutional investors in two category as a theoretical view. First, investors which have a business relationship with the companies in which they hold shares and second vice versa. Investment firms are existing in second category. Hence ,this study investigate relationship between ownership of investment firms and share price in107 listed firms of Tehran Stock Exchange (TSE) during a six-year period from 2006 to 2011.  Using correlation method and multiple regression technique, the results of this study  indicate  that  there is a negative relation between ownership of investment firms and investee firms share price.