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Full-Text Articles in Law
Puzzles In Controlling Shareholder Regimes And China: Shareholder Primacy And (Quasi) Monopoly, Sang Yop Kang
Puzzles In Controlling Shareholder Regimes And China: Shareholder Primacy And (Quasi) Monopoly, Sang Yop Kang
Sang Yop Kang
Professor Mark Roe explained that the shareholder wealth maximization norm (“the norm”) is not fit for a country with a (quasi) monopoly, because the norm encourages managers to maximize monopoly rents, to the detriment of the national economy. This Article provides new findings and counter-intuitive arguments as to the tension created by the norm and (quasi) monopoly by exploring three key corporate governance concepts that Roe did not examine—(1) “controlling minority structure” (CMS), where dominant shareholders hold a fractional ownership in their controlled-corporations, (2) “tunneling” (i.e., illicit transfer of corporate wealth to controlling shareholders), and (3) Chinese state-owned enterprises (SOEs). …
The Proposed Inheritance Tax And Its Impact On China's Economy, Michael Steve
The Proposed Inheritance Tax And Its Impact On China's Economy, Michael Steve
Michael Steve
No abstract provided.
What Determines M&A Legal And Financial Advisors' Competitiveness In An International Financial Centre: Using China's Going Out Policy As A Natural Experiment, Bryane Michael
Bryane Michael (bryane.michael@stcatz.ox.ac.uk)
How can legal and financial advisors compete in the global market for M&A mandates? In this presentation, we review the arguments made in our paper.