Investor Protection and Takeover in Chinese Securities Market

被引：0
|
作者：
Zeng Zhaozao [1 ]
Li Shanmin [2 ]
Chen Yugang [2 ]
机构：
[1] Guangdong Univ Foreign Studies, Sch Finance & Econ, Guangzhou 510420, Guangdong, Peoples R China
[2] Sun Yat Sen Univ, Sch Business, Guangzhou 510275, Guangdong, Peoples R China
来源：
STATISTIC APPLICATION IN MACROECONOMY AND INDUSTRY SECTORS | 2010年
基金：
中国国家自然科学基金; 国家教育部科学基金资助;
关键词：
Investor protection; Takeover; Evaluation index; Corporate governance; FINANCE; LAW;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In the institution setup of Chinese developing and transitional economy, investor protection has been an important factor influencing Chinese securities market developing. The study has devised an index suitable to evaluate investor protection of listed companies in Chinese conditions, basing on Chinese legal system and practices of securities market, and has empirically tested the relation of investor protection and takeover of listed companies during 2002 to 2004. Our results show that, the investor protection of companies' takeover is lower, the probability of being takeover is negatively related to investor protection, takeover can improve the level of investor protection, and development of corporate control market take a important role in improving investor protection in China.
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页码：612 / 618
页数：7
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