Condition Analysis of the Ultimate Controlling Shareholder Expropriate Minority Shareholder

摘要：

This paper take the divergence of the ultimate controlling shareholder ownership produced by controlling minority structure and controlling right as research object, to study when will the ultimate controlling shareholder expropriates from minority shareholder by expanding LLSV model. Our results indicate that investor protection, relative ownership, and relative ROI are important influential factors of whether the ultimate controlling shareholder expropriate or expropriate much from minority shareholder. Our results are consistent with the outcomes of corporate governance empirical researches.

关键词： Controlling Minority Structure Investor Protection Relative Ownership Relative ROI Expropriation

作者: 吕长江 肖成民

作者单位: 复旦大学管理学院 吉林大学商学院

会议类型: 国际会议

会议名称: 2007年中国国际金融年会

会议地点: 成都

会议语种:英文

在线出版日期: 2007-07-09（万方平台首次上网日期，不代表论文的发表时间）