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Studies On Restructuring Of The Legal Person Of Listed Companies

Posted on:2003-10-25Degree:DoctorType:Dissertation
Country:ChinaCandidate:R MengFull Text:PDF
GTID:1116360095952308Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
"Corporate governance" has a history of about ten years in the countries that enjoy a well -developed market economy while it has been kept unacquainted in China yet. Therefore, it's necessary to have a systematic research on corporate governance, especially in the situation of restructuring economics system.The dissertation is finished with a careful consideration and an abundant review on literatures, and on the basis of a practical experience of economics system restructuring as well.(1) The dissertation creatively initiates a new subject called "corporate governance" and has a scientific definition on it's studying objective and some basic concepts, which, are of great difference from those of the predecessors.(2) The dissertation puts forward three basic issues concerning "corporate governance": the profit distribution among the investors of listed companies; the controlling power over the listed companies; and the incentive regulation among listed companies. In the dissertation, it is pointed out that the three basic issues are key to the value concept, the structure stability and the development dynamic of listed companies, which, are the most important supporting power related to listed companies' existence and development.(3) Having made a careful research on the issue that one company is dominating in share holding, the dissertation puts forward a new idea that we would better have a dialectical understanding rather than a repulsive opinion on this issue.(4) The dissertation creatively use the reference of the "information asymmetry" principle raised by American economists Victory and Morris and points out that the key issue of "" is try to overcome the information asymmetry phenomenon, so that theinvestors are capable to get all the infomation on listed companies for their decision making.(5) In analyzing the cases of information asymmetry issue of listed companies, the dissertation simplifies the theory raised by Foster, the American accountant and economist, Boly, Brown, etc, explaining the influence on the price fluctuation caused by the ration of share distribution, share transfers, etc. The dissertation holds the opinion that the basic risky coefficient and systematic coefficient in SHARP model can be easily calculated by comparing the practical interest rate of one particular stock to the interest rate of the whole stock market during the same period.(6) The dissertation put forward some original proposal to the system restructure of Accounting Firm.
Keywords/Search Tags:Listed Companies, Legal person, Corporate Governance
PDF Full Text Request
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