The private sale of corporate control, or agreed takeover, of listed companies has been the primary form of control transaction in China. However such takeovers have in many cases presented an opportunity for the control buyer and seller to extract value from the company at the expense of the...

The rise of institutional investor activism is changing the corporate governance landscape in China, as it has in the US, UK and a few other economies. The article examines the legal and regulatory environments in which Chinese financial institutions act as shareholders and participate in the...

An ongoing debate in comparative corporate governance has been on what specific corporate governance arrangements matter in the governance of pubic firms worldwide. In this debate, the role of cumulative voting has attracted increasing attention. Using a unique, hand-collected dataset of formal...

This article examines the development of the doctrine of piercing the corporate veil in China, which culminated in the codification of the doctrine in China's 2005 revised Company Law. It argues that the statutory veil-piercing provision, characterized by vagueness and abstraction, is in part a...

Despite the growing literature on the Asian Infrastructure Investment Bank (AIIB), relatively little has been done to examine the governance issues of the AIIB. How is the governance of the AIIB similar to and different from that of other existing multilateral development banks (MDBs), in...

Is the rule of law particularly weak in countries of the “Belt and Road” (B&R) initiative? Are legal and regulatory environments particularly unfriendly to businesses in B&R countries? These are questions that concern academics, policy makers, investors, and the like. In order to measure the...

An understudied aspect of the comparative literature on cumulative voting is the varying national approaches to cumulative voting in East Asian jurisdictions. This article focuses on the Chinese approach to cumulative voting, which is characterized with a mandatory-permissive bifurcation. The...

This research examines the process of adoption and adaption in which foreign norms and local conditions have interacted to shape the evolutionary trajectory of the China Securities Regulatory Commission's (CSRC) enforcement programme. It argues that two salient features of Chinese securities...

Drawing on a dataset comprising all 447 CSRC sanction decisions taken from 2006 to 2012, this research presents preliminary empirical findings on an important component of China's public securities enforcement activities: CSRC administrative sanctions and industry bans. In particular, it shows...

We conduct a preliminary empirical study on the shareholders’ exercise of their rights in China’s A-share stock markets. Our focus is on shareholders’ attendance of the general meeting and their exercise of voting rights. We empirically show that the ownership form, concentration of...