Corporate control and enterprise reform in China: an econometric analysis of Block Share Trades
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Heidelberg
Physica-Verl.
2008
|
| Edition: | 1. ed. |
| Series: | Contributions to Economics
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XII, 115 S. |
| ISBN: | 9783790820195 3790820199 |
Staff View
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Record in the Search Index
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| adam_text | IMAGE 1
CONTENTS
PREFACE V
LIST OF ABBREVIATIONS IX
LIST OF TABLES XI
1 INTRODUCTION 1
2 CHINA S REFORM PROCESS, STOCK MARKET DEVELOPMENT, AND TESTABLE
HYPOTHESES 7
2.1 CHINA S APPROACH TO ECONOMIC REFORMS 7
2.2 THE DEVELOPMENT OF STOCK MARKETS IN CHINA 12
2.2.1 THE SETUP AND MAIN FEATURES OF CHINA S STOCK MARKETS, 12 2.2.2 THE
REGULATORY FRAMEWORK OF CHINA S STOCK MARKETS 16
2.2.3 THE CORPORATE GOVERNANCE OF CHINA S LISTED FIRMS 18
2.3 BLOCK TRADING IN CHINA AND TESTABLE HYPOTHESES - 25
3 DATA, CONCEPT OF CONTROL, AND SUMMARY STATISTICS ON CHANGES IN CONTROL
29
3.1 DATA SOURCES 29
3.2 SAMPLE SELECTION, AND CONCEPT OF ULTIMATE CONTROL 30
3.3 DESCRIPTIVE STATISTICS OF CHANGES IN ULTIMATE SHARE OWNERSHIP 38
3.3.1 FREQUENCY OF CHANGES IN ULTIMATE CONTROL 38
3.3.2 IDENTITY OF BUYERS AND SELLERS OF CONTROL BLOCKS 43
3.3.3 PRICING AND SIZE DISTRIBUTION OF CONTROL BLOCKS 46
4 CAUSES OF CHANGES IN ULTIMATE SHARE OWNERSHIP 51 4.1 METHODOLOGICAL
APPROACH, DATA, AND UNIVARIATE RESULTS 51 4.1.1 DEFINITION OF VARIABLES
AND UNIVARIATE RESULTS 51
4.1.2 MODEL SPECIFICATION 58
BIBLIOGRAFISCHE INFORMATIONEN HTTP://D-NB.INFO/986294640
DIGITALISIERT DURCH
IMAGE 2
VIII CONTENTS
4.2 MULTIVARIATE RESULTS AND INTERPRETATION 62
4.2.1 ECONOMETRIC RESULTS 63
4.2.2 INTERPRETATION OF THE RESULTS 68
4.3 ROBUSTNESS OF THE MULTIVARIATE RESULTS 71
4.3.1 ALTERNATIVE MEASURES OF EXPLANATORY VARIABLES 72
4.3.2 DIFFERENT MEANS OF CONTROL TRANSFERS 74
4.3.3 MULTIPLE CHANGES IN CONTROL 76
5 CONSEQUENCES OF CHANGES IN ULTIMATE SHARE OWNERSHIP 81 5.1 UNIVARIATE
ANALYSIS OF THE CONSEQUENCES OF CONTROL CHANGES 81 5.1.1 DEFINITION OF
RESTRUCTURING AND PERFORMANCE MEASURES 81 5.1.2 UNIVARIATE RESULTS 83
5.2 MULTIVARIATE ANALYSIS OF THE CONSEQUENCES OF CONTROL CHANGES 87
5.2.1 MODEL SPECIFICATION 87
5.2.2 ECONOMETRIC RESULTS 90
5.2.3 ROBUSTNESS OF THE RESULTS 94
6 CONCLUSION 101
APPENDIX 105
REFERENCES 109
|
| adam_txt |
IMAGE 1
CONTENTS
PREFACE V
LIST OF ABBREVIATIONS IX
LIST OF TABLES XI
1 INTRODUCTION 1
2 CHINA'S REFORM PROCESS, STOCK MARKET DEVELOPMENT, AND TESTABLE
HYPOTHESES 7
2.1 CHINA'S APPROACH TO ECONOMIC REFORMS 7
2.2 THE DEVELOPMENT OF STOCK MARKETS IN CHINA 12
2.2.1 THE SETUP AND MAIN FEATURES OF CHINA'S STOCK MARKETS, 12 2.2.2 THE
REGULATORY FRAMEWORK OF CHINA'S STOCK MARKETS 16
2.2.3 THE CORPORATE GOVERNANCE OF CHINA'S LISTED FIRMS 18
2.3 BLOCK TRADING IN CHINA AND TESTABLE HYPOTHESES - 25
3 DATA, CONCEPT OF CONTROL, AND SUMMARY STATISTICS ON CHANGES IN CONTROL
29
3.1 DATA SOURCES 29
3.2 SAMPLE SELECTION, AND CONCEPT OF ULTIMATE CONTROL 30
3.3 DESCRIPTIVE STATISTICS OF CHANGES IN ULTIMATE SHARE OWNERSHIP 38
3.3.1 FREQUENCY OF CHANGES IN ULTIMATE CONTROL 38
3.3.2 IDENTITY OF BUYERS AND SELLERS OF CONTROL BLOCKS 43
3.3.3 PRICING AND SIZE DISTRIBUTION OF CONTROL BLOCKS 46
4 CAUSES OF CHANGES IN ULTIMATE SHARE OWNERSHIP 51 4.1 METHODOLOGICAL
APPROACH, DATA, AND UNIVARIATE RESULTS 51 4.1.1 DEFINITION OF VARIABLES
AND UNIVARIATE RESULTS 51
4.1.2 MODEL SPECIFICATION 58
BIBLIOGRAFISCHE INFORMATIONEN HTTP://D-NB.INFO/986294640
DIGITALISIERT DURCH
IMAGE 2
VIII CONTENTS
4.2 MULTIVARIATE RESULTS AND INTERPRETATION 62
4.2.1 ECONOMETRIC RESULTS 63
4.2.2 INTERPRETATION OF THE RESULTS 68
4.3 ROBUSTNESS OF THE MULTIVARIATE RESULTS 71
4.3.1 ALTERNATIVE MEASURES OF EXPLANATORY VARIABLES 72
4.3.2 DIFFERENT MEANS OF CONTROL TRANSFERS 74
4.3.3 MULTIPLE CHANGES IN CONTROL 76
5 CONSEQUENCES OF CHANGES IN ULTIMATE SHARE OWNERSHIP 81 5.1 UNIVARIATE
ANALYSIS OF THE CONSEQUENCES OF CONTROL CHANGES 81 5.1.1 DEFINITION OF
RESTRUCTURING AND PERFORMANCE MEASURES 81 5.1.2 UNIVARIATE RESULTS 83
5.2 MULTIVARIATE ANALYSIS OF THE CONSEQUENCES OF CONTROL CHANGES 87
5.2.1 MODEL SPECIFICATION 87
5.2.2 ECONOMETRIC RESULTS 90
5.2.3 ROBUSTNESS OF THE RESULTS 94
6 CONCLUSION 101
APPENDIX 105
REFERENCES 109 |
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| geographic_facet | China |
| id | DE-604.BV023064757 |
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| index_date | 2024-07-02T19:30:12Z |
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| language | English |
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| series2 | Contributions to Economics |
| spelling | Büchelhofer, Christian Verfasser aut Corporate control and enterprise reform in China an econometric analysis of Block Share Trades Christian Büchelhofer Corporate control, firm performance, and enterprise reform in China 1. ed. Heidelberg Physica-Verl. 2008 XII, 115 S. txt rdacontent n rdamedia nc rdacarrier Contributions to Economics Zugl.: München, Univ., Diss. 2007 u.d.T.: Büchelhöfer, Christian: Corporate control, firm performance, and enterprise reform in China Geschichte 1996-2006 gnd rswk-swf Unternehmensentwicklung (DE-588)4125011-4 gnd rswk-swf Corporate Governance (DE-588)4419850-4 gnd rswk-swf China (DE-588)4009937-4 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content China (DE-588)4009937-4 g Corporate Governance (DE-588)4419850-4 s Unternehmensentwicklung (DE-588)4125011-4 s Geschichte 1996-2006 z DE-604 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016267973&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Büchelhofer, Christian Corporate control and enterprise reform in China an econometric analysis of Block Share Trades Unternehmensentwicklung (DE-588)4125011-4 gnd Corporate Governance (DE-588)4419850-4 gnd |
| subject_GND | (DE-588)4125011-4 (DE-588)4419850-4 (DE-588)4009937-4 (DE-588)4113937-9 |
| title | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades |
| title_alt | Corporate control, firm performance, and enterprise reform in China |
| title_auth | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades |
| title_exact_search | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades |
| title_exact_search_txtP | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades |
| title_full | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades Christian Büchelhofer |
| title_fullStr | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades Christian Büchelhofer |
| title_full_unstemmed | Corporate control and enterprise reform in China an econometric analysis of Block Share Trades Christian Büchelhofer |
| title_short | Corporate control and enterprise reform in China |
| title_sort | corporate control and enterprise reform in china an econometric analysis of block share trades |
| title_sub | an econometric analysis of Block Share Trades |
| topic | Unternehmensentwicklung (DE-588)4125011-4 gnd Corporate Governance (DE-588)4419850-4 gnd |
| topic_facet | Unternehmensentwicklung Corporate Governance China Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016267973&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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