Non-Legal Protection for Minority Shareholders in China PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Non-Legal Protection for Minority Shareholders in China PDF full book. Access full book title Non-Legal Protection for Minority Shareholders in China by Shaowei Lin. Download full books in PDF and EPUB format.
Author: Shaowei Lin Publisher: ISBN: Category : Languages : en Pages : 16
Book Description
Minority shareholders in China face the risk of exploitation by both managers and majority shareholders. This is due to owner absence and concentrated ownership structures. In reducing these double agency costs, non-legal protection has a key role to play. Four market forces have been identified as reducing these double agency costs; each of these will be evaluated. Whilst their effectiveness may be recognised in some countries, this paper will conclude that certain factors hamper their function, thus rendering them ineffective in today's Chinese context.
Author: Shaowei Lin Publisher: ISBN: Category : Languages : en Pages : 16
Book Description
Minority shareholders in China face the risk of exploitation by both managers and majority shareholders. This is due to owner absence and concentrated ownership structures. In reducing these double agency costs, non-legal protection has a key role to play. Four market forces have been identified as reducing these double agency costs; each of these will be evaluated. Whilst their effectiveness may be recognised in some countries, this paper will conclude that certain factors hamper their function, thus rendering them ineffective in today's Chinese context.
Author: Ludwig Hetzel Publisher: GRIN Verlag ISBN: 3640400348 Category : Law Languages : en Pages : 16
Book Description
Seminar paper from the year 2009 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: B+, Tsinghua University, language: English, abstract: The Company Law of the People’s Republic of China was revised in the year 2005. This paper analyses the protection of the minority shareholders under the new law.
Author: Ludwig Hetzel Publisher: GRIN Verlag ISBN: 3640400143 Category : Law Languages : en Pages : 37
Book Description
Seminar paper from the year 2009 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: B+, Tsinghua University, language: English, abstract: The Company Law of the People's Republic of China was revised in the year 2005. This paper analyses the protection of the minority shareholders under the new law.
Author: Shaowei Lin Publisher: ISBN: Category : Languages : en Pages : 26
Book Description
In view of the increasingly severe exploitation of minority shareholders and the existence of double agency costs in China, it is necessary to provide strong protection for minority shareholders in China in order to build an investor-friendly system. By enabling minority shareholders to prevent misconducts of majority shareholders and managers, legal system has made significant progress in the past twenty years. Nevertheless, many defects still exist. The first enactment of the PRC Company Law was passed in 1992 with primary goal to serve reform of state-owned enterprises and therefore protection for minority shareholders was excluded by the scope of these reforms. The revision of the Company Law in 2005 was regarded as historical progress of Chinese company law in respect of providing protection for minority shareholders as many rights are conferred on shareholders and more measures were adopted to restrain the power of directors and controlling shareholders. However, this paper identifies that these various rights and protective mechanisms have certain deficiencies, which means that the interests of minority shareholders suppose to be guaranteed would be inevitably affected. Without improvements and clarifications of the existing legal protection in the future, interests of shareholders and company as a whole will be obstructed ultimately and development of capital markets will be significantly impeded.
Author: Jinqian Qiu Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Corporate governance mainly of public companies has been lively debate by scholars in law, law and economic, management, sociology, and political economy from various angles respectively in the past two decades. Traditionally, the debate of corporate governance is based on the assumption of the separation of ownership and control in modern public companies with diffuse ownership, identified by Berle and Means in their classical work. However, the proposition of ownership structure and the approaches to corporate governance have been challenged by recent research. Massive empirical surveys have been conducted in relation to the ownership structure of publicly quoted companies, around the world, not limited to the US. Empirical evidence has shown that ownership is dispersed in the UK and US and, however, concentrated in the hands of banks, the state, or family-controlled companies in most other countries, as opposed to the Berle and Means modern company with dispersed ownership. The Berle and Means modern company with diffuse ownership has been further challenged by the rise of institutional ownership since the 1990's in the US, UK, and Australia. The corporate governance systems can be distinguished pursuant to the ownership structure, control, and identity of controlling shareholders. In china, although the state promotes the ideas of a shareholding system and corporatization, it still retains a large portion of state-owned shares in listed companies constructed from former State-Owned Enterprises (hereinafter referred to as "SOEs"). The ownership structure of Chinese listed companies is highly concentrated in the hands of the state, directly or indirectly. This will lead to expropriation of minority shareholders by controlling shareholders. This article intends to explore the issue of corporate governance in Chinese listed companies from the perspective of both expropriation of minority shareholders by controlling shareholders and the protection of minority shareholders. The rest of this article is organized as follows. Section 2 briefly reviews recent literature on the expropriation of minority shareholders by controlling shareholders. Various forms of tunneling in Chinese listed companies are examined in section 3. Section 4 analyses protection of minority shareholders in China and mainly focuses on recent relevant administrative regulations introduced by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). Section 5 concludes with some observations and recommendations as to how minority shareholder protection can be strengthened in China.
Author: Chi Zhang Publisher: Routledge ISBN: 042960324X Category : Law Languages : en Pages : 141
Book Description
This monograph aims to provide an in-depth analysis of the legal protection of the private equity (PE) investors in China. In an academic sense, this research mainly focuses on the agency problems in the life cycle of PE investment under the business organization law system in China. Briefly speaking, the agency problems of PE investment derive from the two-level separation of ownership and control, one of which is the principal–agent relationship between the PE investors and the fund manager, and the other is the principal–agent relationship between the PE shareholders and the management of investee companies. It is the first research to provide an in-depth examination on the investor protection in the PE investment under the business organization law system in China.
Author: Umakanth Varottil Publisher: Cambridge University Press ISBN: 1107195276 Category : Business & Economics Languages : en Pages : 545
Book Description
Comparative Takeover Regulation compares the laws relating to takeovers in leading Asian economies and relates them to broader global developments. It is ideal for educational institutions that teach corporate law, corporate governance, and mergers and acquisitions, as well as for law firms, corporate counsel and other practitioners.
Author: Jiang Yu Wang Publisher: Edward Elgar Publishing ISBN: 1849805733 Category : Law Languages : en Pages : 407
Book Description
This accessible book offer a comprehensive and critical introduction to the law on business organizations in the People�s Republic of China. The coverage focuses on the 2005-adopted PRC Company Law and the most recent legislative and regulatory develop
Author: Shaowei Lin
Author: Shaowei Lin
Author: Ludwig Hetzel
Author: Ludwig Hetzel
Author: Shaowei Lin
Author: Jinqian Qiu
Author: Ziwei Zheng
Author: Chi Zhang
Author: Umakanth Varottil
Author: Jiang Yu Wang
Author: Yun-chien Chang