机构投资者调研信息获取与投资行为能“知行合一”吗--基于基金公司的数据  

Do Institutional Investors Maintain Knowledge-Action Unity in Practice?Evidence from Fund Companies

作　　者：杨墨 岳思诗 董大勇[1] Yang Mo;Yue Sishi;Dong Dayong(School of Economics and Management,Southwest Jiaotong University,Sichuan,Chengdu 610031,China)

机构地区：[1]西南交通大学经济管理学院,四川成都610031

出　　处：《金融经济学研究》2021年第4期111-125,共15页Financial Economics Research

基　　金：国家自然科学基金项目(71862003、71773100)。

摘　　要：随着中国股市快速发展,基金公司作为机构投资者的重要组成部分,规模得到迅速扩展。以2010—2020年在中国注册的基金公司旗下基金为样本,从所获取调研信息文本切入,分析参与调研的机构投资者能否做到"知行合一"及其影响因素,结果表明,以基金公司为代表的机构投资者参与调研后能达到"知行合一"的行为状态,治理水平、所管理投资组合涨幅、所有权性质、所处区域文化氛围以及基金经理个人特征是影响"知行合一"行为状态的重要因素。As important institutional investors in the Chinese capital market,fund companies have grown fast in the past decade.Based on the fund products managed by the fund companies registered in China during 2010-2020,this study investigated whether institutional investors demonstrate a unity of knowledge and action by analyzing the text obtained from a survey.Factors influencing the answer were also identified.The results showed that institutional investors represented by fund companies maintained knowledge-action unity following the survey,and important influencing factors included governance capability,appreciation in the managed portfolio,the nature of ownership,the local cultural atmosphere,and the personal characteristics of the fund managers.

关 键 词：机构投资者 调研信息 投资行为 基金公司 知行合一 

分 类 号：F830.59[经济管理—金融学]