Study On The Practice Of Tender Offer In China

Most studies on tender offer in China are in law, seldom in economics or other fields. The paper concludes the key factors in the background at the first time, and studies the practice of tender offer in China according to these factors.The paper introduces tender offer overseas, the practice of tender offer in China, analyses the key factors in the background in China, then points out the obstacles on tender offer on China's listed companies and gives conclusions. The paper divides three chapters besides preface, introducing as follows:Chapter 1: General introduction on overseas tender offers. This chapter introduces the definition of tender offer, the development of overseas tender offer, background factors, the relationship of tender offer and shareholder benefit from theory and empirical study.Chapter 2: The introduction of practice of tender offer on China's listed companies. This chapter first gives a simple introduction on the development of China's tender offer, then brings in the case of tender offer on Nangang Corporation, and concludes the characteristics of tender offer on China's listed companies.Chapter 3: The analysis of key background factors on tender offer in China and the conclusion. This chapter deeply analyses the key background factors affecting the practice of tender offer in China, such as the structure defect of China's capital market, country as the shareholder big alone, law in China, corporate governance of China's listed companies and China's culture, and summarizes the obstacles on the practice of tender offer in China, then lastly gives conclusion.