DocumentCode
2080414
Title
Notice of Retraction
Internal Capital Markets, Performance after Rights Issue and Investors Protection: Evidence from China
Author
Wan Liangyong
Author_Institution
Sch. of Bus. Adm., South China Univ. of Technol., Guangzhou, China
fYear
2009
fDate
20-22 Sept. 2009
Firstpage
1
Lastpage
4
Abstract
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
Existing researches show that internal capital markets have a significant influence on financing behavior of firms. From the perspective of interaction between internal and external capital markets, this paper studies the influence of internal capital markets on the operational and market performance of listed companies after rights issue. We find that the opportunistic manipulation of internal capital markets by majority shareholders is one of the most important factors that cause the continuing deterioration of operational and market performance of listed companies after rights issue, which destroy the interest of minority shareholders.
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
Existing researches show that internal capital markets have a significant influence on financing behavior of firms. From the perspective of interaction between internal and external capital markets, this paper studies the influence of internal capital markets on the operational and market performance of listed companies after rights issue. We find that the opportunistic manipulation of internal capital markets by majority shareholders is one of the most important factors that cause the continuing deterioration of operational and market performance of listed companies after rights issue, which destroy the interest of minority shareholders.
Keywords
stock markets; external capital markets; firms financing behavior; internal capital markets; investors protection; rights issue; Companies; Costs; Environmental economics; Financial management; Investments; Performance analysis; Protection; Tunneling;
fLanguage
English
Publisher
ieee
Conference_Titel
Management and Service Science, 2009. MASS '09. International Conference on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-4638-4
Type
conf
DOI
10.1109/ICMSS.2009.5301310
Filename
5301310
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