Does the Chinese Securities Regulatory Commission Honor Its Promise?——Evidences from Chinas Listed Corporations Conducting Split Share Structure Reform

摘要：

Based on 987 firms of Split Share Structure Reform (SSSR) from May 9, 2005 to June 18, 2006, we examine the relation between a places enthusiasm to implement SSSR and the places IPOs and SEOs obtained, and find that in order to push forward the reform, SRC is able to tilt to some areas on policy. Starting from this point, we find that SRC will allocate more IPO and SEO resources to a place which has a higher enthusiasm to implement SSSR and pay a higher compensation ratio. These findings are helpful to better understand SRCs behavior and the importance of investor protection.

关键词： Split Share Structure Reform Enthusiasm Compensation Ratio

作者: Dequan JIANG Wei ZHANG

作者单位: School of Business,Nanjing University,China

会议类型: 国际会议

会议名称: 第六届企业跨国经营国际研讨会——转型经济中的企业管理

会议地点: 南京

会议语种:英文

页码: 339-347

在线出版日期: 2008-06-06（万方平台首次上网日期，不代表论文的发表时间）