Undertakings by the controlling shareholders in Chinese listed companies are commonplace. This study empirically … examines the events where the controlling shareholders announced its intentions not to honour their undertakings. Using event … requires that the proposed breach of undertakings by the controllers be approved by independent shareholders. Paradoxically …

shareholders’ wealth. We compare market performance of Chinese dual-class firms with their single-class counterparts by … itself to high standards it shows a credible commitment towards minority shareholders’ rights, as well as focus on upright …