Daniel, K., Hirshleifer, D. and Subrahmanyam, A. (1998) Investor Psychology and Security Market Under and Overreactions. Journal of Finance, 53, 1839-1885. http://dx.doi.org/10.1111/0022-1082.00077
 Shi, J.Y., Liu, F.F., Dai, W.X. and Li, Y.X. (2012) The Relationship between Fund Holding Behaviors Characteristics and Listed Companies’ Performance—From China’s Capital Market Panel Data from 2005 to 2011 in Empirical Evidence. System Engineering, No. 10, 10-18.
 Demsetz, H. and Lehn, K. (1985) The Structure of Corporate Ownership: Causes and Consquences. Journal of Political Economy, 93, 1155-1177. http://dx.doi.org/10.1086/261354
 Shleifer, A. and Vishny, R.W. (1986) Large Shareholders and Corporate Control. Journal of Political Economy, 94, 461-488. http://dx.doi.org/10.1086/261385
 Smith, M.P. (1996) Shareholder Activism by Institutional Investor: Evidence from Calpers. Journal of Finance, 51, 227-252. http://dx.doi.org/10.1111/j.1540-6261.1996.tb05208.x
 Helwege, J., Intintoli, V. and Zhang, A. (2012) Voting with Their Feet or Activism? Institutional Investors’ Impact on CEO Turnover. Journal of Corporate Finance, 18, 22-37. http://dx.doi.org/10.1016/j.jcorpfin.2011.10.002
 Gillan, S. and Starks, L. (2000) Corporate Governance Proposals and Shareholder Activism: The Role of Institutional Investors. Journal of Financial Economics, 57, 270-305. http://dx.doi.org/10.1016/S0304-405X(00)00058-1
 Fan, H.F., Hu, Y.M. and Shi, S.P. (2009) The Heterogeneity of Institutional Investors, Corporate Governance and Firm Value—The Empirical Evidence from China’s Securities Market. Securities Market Herald, No. 10, 45-51.
 Zhang, X.Z. and Jia, X.F. (2014) The Influence of the Social Security Fund Shareholding on the Value of the Company—Based on the Perspective of Shareholding Characteristic of Heterogeneity. Research on Financial and Economic Issues, No. 05, 45-52.
 Huang, Y.J. and Zeng, Y.M. (2014) The Empirical Research about the Relationship between Institutional Investors Holding and the Performance of Listed Companies. Economic Research Guide, 31, 45-50.
 Li, H.J., et al. (2015) The Diversification of Ownership Structure and Corporate Performance: An Empirical Study on the Listed SOEs form 2007 to 2012. Journal of Central University of Finance & Economics, No. 07, 56-63.
 Liu, X. and Wu, X.C. (2011) The Heterogeneity of Institutional Investors, Enterprise Property Rights and Company Performance—Based on the Comparative Analysis of before and after the Reform of Non-Tradable Shares. Chinese Journal of Management Science, No. 05, 183-190.