Acquisition Supervision of Chinese Listed Companies

Author: Zheng Yan
Publisher:
Publish Date: 2004-08-01
Features: This book first organizes and clarifies the confusion in the existing important legal theories of listed company takeovers, including the clarification of some key concepts in listed company takeovers, such as the concepts of listed company takeovers and equity holders, the clarification of the tender offer regulatory models, and the clarification of the substantive rules of tender offers, and so on. Secondly, through a comprehensive and systematic analysis of China's acquisition regulatory model, it summarizes China's listed company takeover regulatory model as a combination of information disclosure regulation and substantive approval, and explores the background of this regulatory model's emergence from economic, social, political, legal, and cultural perspectives. At the same time, this book conducts both economic and legal analyses of China's existing listed company takeover regulatory model, concluding that this regulatory model is irrational both legally and economically. It increases corporate approval costs and acquisition costs, fails to deter genuine "bad actors," and may even drive "good actors" away. Finally, this book proposes its own unique insights on China's securities regulatory model, suggesting that China should adopt a completely information disclosure regulatory approach.