Title: Control Transfer,Excessive Control and Benefits Expropriation by Large-shareholder:Evidence from Turnover of Senior Management
Abstract: This paper mainly studies the relationship between excessive control and the benefits expropriation of large shareholders after the control transfer of listed companies in China.The results show that:(1) there is a significant positive correlation between the turnover ratio of director,senior management,controlling shareholder occupation in the target board of directors and the benefits expropriation of large shareholder after control transfer.(2) There is a positive correlation between benefits expropriation of large shareholders and the control of controlling shareholders after control transfer.(3) There is a negative correlation between cash-flow rights of controlling shareholders and the benefits expropriation of large shareholders.And(4) there is a positive correlation between the excessive control of controlling shareholders and benefits expropriation of large shareholders obviously.
Publication Year: 2010
Publication Date: 2010-01-01
Language: en
Type: article
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Cited By Count: 1
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