This article provides a detailed analysis of the role of public shareholders in firm monitoring and corporate … governance in one of the world's most concentrated ownership environments — China's controlled capital markets. It moves beyond … shareholders can be involved in firm monitoring and corporate governance. In so doing, this article sheds new light on the global …

and their controlling shareholders use the resources for tunneling rather than investing in positive NPV projects. We also … party transactions are more positive after NTS reform. This confirms that tunneling by the controlling shareholders actually … reduced. We argue that in emerging markets where legal protection for creditors and shareholders is weak, controlling …