| The shareholding reform of state-owned commercial banks is a brand-new practice in our financial industry, and it is meaningful. The introduction of the foreign strategic investor is an important action. What's the effect of the introduction of the foreign strategic investor to state-owned commercial bank's control contest, the dominated shareholder's private benefits of control, and the bank value? It is becoming crucial in shareholding reform.In the dissertation, the foreign strategic investor, the privateben efits of control and the control contest are defined. The situation of introducing fordgn strategic investor to city commercial bank, joint-stock commercial bank, state-owned oommercial bank, and the experience of Hungary, South Korea are shown. The control contest in the state-owned commercial bank after introduction of foreign strategic investors and lifting the control over the fordgn strategic investors' shareholding limit is an aly zed.Based on the different attribute of investors, the dissertation assumes the state-owned commercial bank is composed of three parts, the state-owned blo(?)kholder and the foreign strategic investor blo(?)kholder, which are major blo(?)kholder, and a continuum of small shareholders. The control contest among them is an aly zed.The state-owned bfo(?)kholder pursues utility's maximization with the attribute of "govemment", and the blo(?)kholder of fordgn strategic investor with the attribute of complete "economical". The minority shareholder will get an "Economic Sanctions" if they are not on the state-owned blodcholder's side Control isdetermined in the shareholders' meeting, where the blo(?)kholders submit competing proposals to win the voting aipport of small shareholders. The presence of multiple shareholders reduces private benefits through control contest. Control contest is the extraction and distribution of in privateben efitsof control between majorblo(?)kholders. It is also the blo(?)kholders' contest for small shareholders' voting right The private benefits of... |
