Find in Library

The purpose of this research is investigation of firms' ownership structure on return of investment strategy based on idiosyncratic risk. So, a sample composed of 270 listed companies in Tehran Stock Exchange is examined during 1378 to 1389. Portfolio study approach based on dual sorting is used to test the relation between later variables. The results show that against what was expected, higher institutional ownership in ownership structure amplifies return of investment strategy based on idiosyncratic risk. It seems that probably either institutional ownership in Tehran Stock Exchange is not accurate proxy for portfolio diversification and investors expertise or its effect should be explore in factors other than portfolio diversification and investors expertise.