Distribution of Benefits: Case Study of Benefit Distribution in Chinese Listed Companies

Author: Sun Qingcai
Publisher:
Publish Date: 2006-05-01
Features: This book explains the distribution of interests from aspects such as dividend distribution, MBO, stock options, employee stock ownership plans, and debt restructuring. We originally intended to present to everyone a benign and resource-optimizing interest distribution mechanism; a principled and merit-based interest allocation market where the strong thrive and the weak perish. However, in this book, despite some cases that we hold in high regard, what is more prominently presented are scenes of opportunistic exploitation and chaotic disputes. This is not intentional on our part, but rather because whether we carefully select or casually choose, the cases largely reflect this reality. Those revered executives, with awe-inspiring moves, have divided state assets to the fullest extent—this is what is called "management buyouts." Those esteemed major shareholders, with dazzling capital operations, have seized the hard-earned money of small shareholders—this is the behind-the-scenes story behind some "high dividend payouts."