The Sale of Treasury Stocks and Protection of Management Rights

Treasury stocks play a vital role in retaining, protecting and transferring management rights in large enterprises. However, the sale of treasury stocks is essentially identical to the issuance of new shares in economic nature. Therefore, using treasury stocks to protect management rights could obscure the equal treatment of shareholders. Even if such practices are permitted for policy purposes, the government needs to put other measures into place to protect general and minority shareholders from the damages that may arise.링크를 클릭하시면, 이 보고서의 한국어 버전을 보실 수 있습니다: 'http://ssrn.com/abstract=2961560' http://ssrn.com/abstract=2961560