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This paper seeks to determine if institutional investors influence corporate research and development (R&D) investment policies by encouraging R&D investment in firms with high information asymmetry. The effect of changes in institutional investor levels to subsequent changes in R&D investment levels are examined using firm and year fixed effect regressions and difference-GMM regressions. Increased institutional ownership leads to increased R&D investment and this relationship is stronger indoi:10.5539/ibr.v7n10p22 fatcat:dtbnlx7fu5a7nizetrtdnfep6q