The Color of Government Money. Do Investors Differently Value the Investment of Sovereign Wealth Funds?

Bank, M., Baumann, R. (2015). Market Efficiency under Ad Hoc Information: Evidence from Germany. Financial Markets and Portfolio Management, 29, 173-206.10.1007/s11408-015-0250-8Search in Google Scholar

Barlevi, G., Veronesi, P. (2000). Information Acquisition in Financial Markets. Review of Economic Studies, 67, 79–90.10.1111/1467-937X.00122Search in Google Scholar

Baytas, A., Cakici, N. (1999). Do Markets Overreact: International Evidence. Journal of Banking & Finance, 23(7), 1121-1144.10.1016/S0378-4266(98)00133-2Open DOISearch in Google Scholar

Borisova, G., Brockman, P., Sales, J., Zagorchev, A. (2012). Government Ownership and Corporate Governance: Evidence from the EU. Journal of Banking and Finance, 36, 2917-2934.10.1016/j.jbankfin.2012.01.008Search in Google Scholar

Bortolotti, B., Fotak, V., Megginson, W., Miracky, W. (2015). The Sovereign Wealth Funds Discount: Evidence from Public Equity Investments. Review of Financial Studies, 28, 2993-3035.10.1093/rfs/hhv036Search in Google Scholar

Çelik, S., Isaksson, M. (2014). Institutional Investors and Ownership Engagement. OECD Journal: Financial Market Trends, 2, 93-114.10.1787/fmt-2013-5jz734pwtrkcSearch in Google Scholar

Charfreddine, L., Elmarzougui, A. (2010). Institutional Ownership and Firm Performance: Evidence from France. The IUP Journal of Behavioral Finance, 7(4), 35-46.Search in Google Scholar

Ciarlone, A., Micelli, V. (2014). Are Sovereign Wealth Funds Contrarian Investors? Banca D'Italia Working Papers, 972, 1-39.10.2139/ssrn.2550736Search in Google Scholar

de Bondt, W., Thaler, R. (1985). Does the Stock Market Overreact? Journal of Finance, 40, 793-805.10.1111/j.1540-6261.1985.tb05004.xOpen DOISearch in Google Scholar

Dewenter, K., Han, X., Malatesta, P. (2010). Firm Values and Sovereign Wealth Funds Investments. Journal of Financial Economics, 98, 256-278.10.1016/j.jfineco.2010.05.006Open DOISearch in Google Scholar

Dinh, B.N. (2011). The Impart of Sovereign Wealth Fund Investments on the Performance of Listed Companies. Cahier de recherche du CERAG, 2011-02 E2, 1-16.Search in Google Scholar

Elyasiani, E., Jia, J. (2010). Distribution of Institutional Ownership and Corporate Firm Performance. Journal of Banking & Finance, 34, 606-620.10.1016/j.jbankfin.2009.08.018Open DOISearch in Google Scholar

Estrin, S., Hanousek, J., Kočenda, E., Svejnar, J. (2009). The Effects of Privatization and Ownership in Transition Economies. Journal of Economic Literature, 47, 699-728.10.1257/jel.47.3.699Search in Google Scholar

Fama, E. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. Journal of Finance, 25(2), 383-417.10.2307/2325486Search in Google Scholar

Fama, E., Fisher, L., Jensen, M., Roll, R. (1969). The Adjustment of Stock Prices to New Information. International Economic Review, 10(1), 1-21.10.2307/2525569Open DOISearch in Google Scholar

Fernandes, N. (2014). The Impact of Sovereign Wealth Funds on Corporate Value and Performance. Journal of Applied Corporate Finance, 26(10), 76-84.Search in Google Scholar

Fiszeder, P., Mstowska, E. (2011). Analiza wpływu splitów akcji na stopy zwrotu spółek notowanych na GPW w Warszawie. Prace i Materiały Wydziału Zarządzania Uniwersytetu Gdańskiego, 4(8), 203-210.Search in Google Scholar

Fotak, V., Bortolotti, B. Megginson, W. (2008). The Financial Impact of Sovereign Wealth Funds Investments in Listed Companies. Working Paper, University of Oklahoma, 1-47.Search in Google Scholar

Heaney, R., Li, L., Valencia, V. (2011). Sovereign Wealth Funds Investment Decisions: Temasek Holings. Australian Journal of Management, 36(1), 109-120.10.1177/0312896210388859Open DOISearch in Google Scholar

Hsu, M-F., Wang, K. (2014). The Level and Stability of Institutional Ownership and Firm Performance: Evidence from Taiwan. Emerging Markets Finance & Trade, 50, 159-173.10.2753/REE1540-496X5002S211Search in Google Scholar

Kamiński, T., Obroniecki, M., Wiśniewski, P. (2015). Sovereign Wealth Funds in Central and Eastern Europe: Scope and Methods of Financial Penetration, The Quarterly e-Finanse, 11(1), 11-21.10.1515/fiqf-2016-0102Search in Google Scholar

Knill, A., Lee, B., Mauck, N. (2012). Sovereign Wealth Funds Investment and the Return to Risk Performance of Target Firms. Journal of Financial Intermediation, 21(2), 315-340.10.1016/j.jfi.2011.10.001Open DOISearch in Google Scholar

Kotter, J., Lel, U. (2008). Friends of Foes? The Stock Price Impact of Sovereign Wealth Fund Investments and the Price of Keeping Secrets. International Finance Discussion Papers, 940, 1-59.10.17016/IFDP.2008.940Search in Google Scholar

Kumar, J. (2004). Does Ownership Structure Influence Firm Value? Evidence from India. The Journal of Entrepreneurial Finance and Business Venture, 9(2). 61-93.10.57229/2373-1761.1070Search in Google Scholar

Liang, C.J., Lin, Y.L., Huang, T.T. (2011). Does Endogenously Determined Ownership Matter on Performance? Dynamic Evidence from Emerging Taiwan Market. Emerging Markets Finance and Trade, 47, 120-133.10.2753/REE1540-496X470607Search in Google Scholar

Mietzner, M., Schiereck, D., Schweizer, D. (2015). The Role of Sovereign Wealth Funds as Activist or Passive Fund Manager, Journal of Assets Management, 16(5), 303–315.10.1057/jam.2015.16Search in Google Scholar

Nam, K., Pyun, C.S., Avard, S.L. (2001). Asymmetric Reverting Behaviour of Short-horizon Stock Returns: an Evidence of Stock Market Overreaction. Journal of Banking and Finance, 25, 807-824.10.1016/S0378-4266(00)00110-2Search in Google Scholar

Navissi, F., Naiker, V. (2006). Institutional Ownership and Corporate Value. Managerial Finance, 32(3), 247-256.10.1108/03074350610646753Open DOISearch in Google Scholar

Ruiz-Mallarquí, M.V., Santana-Martín, D.J. (2011). Dominant Institutional Owners and Firm Value. Journal of Banking and Finance, 35(1), 118-129.10.1016/j.jbankfin.2010.07.020Search in Google Scholar

Salehi, M., Rostami, V., Sehali, H. (2012). The Role of Information Asymmetry in Financing Methods, Managing Global Transitions, 12(1), 43-54.Search in Google Scholar

Shunmugam, V. (2012). Sovereign Wealth Funds and Emerging Economies - Reap the Good Leave the Bad. Macroeconomics and Finance in Emerging Markets Economies, 5(2), 281-296.10.1080/17520843.2012.671146Search in Google Scholar

Sun, Q., Tong, W. (2003). China’s Share Issue Privatization: The Extent of Its Success. Journal of Financial Economics, 70, 183-222.10.1016/S0304-405X(03)00145-4Open DOISearch in Google Scholar

SWFI. (2016). http://www.swfinstitute.org/sovereign-wealth-fund-rankings/, 15.02.2016.Search in Google Scholar

Urban, D. (2009). Sovereign Wealth Funds – New Players on Global Financial Markets. Comparative Economic Research. Central and Eastern Europe, 12(1),115-129.10.2478/v10103-009-0007-6Search in Google Scholar

Urban, D. (2016). Płynność, rentowność, dywidenda czy wielkość? Dominujące kryterium inwestycyjne inwestora instytucjonalnego na przykładzie państwowego funduszu majątkowego, Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, rynki finansowe, ubezpieczenia, article in press.Search in Google Scholar

Yuan, R., Xiao, J.Z., Zou, H. (2008). Mutual Funds’ Ownership and Firm Performance: Evidence from China. Journal Banking and Finance, 32, 1552-1565.10.1016/j.jbankfin.2007.08.001Search in Google Scholar