The paper compares different delisting policies and "passively delisted companies"-companies ordered to be delisted by the stock exchanges of China’s A-share market. Further, this paper empirically analyzes previous delisting cases. Common characteristics of these "passively delisted companies" are discovered based on statistical induction of their industrial background, ownership, survivorship and operation profits. I also propose a prediction model to identify potentially "passively delisted companies" from the special treatment list. |