DocumentCode
2142365
Title
Notice of Retraction
Corporate Ownership, Control Contestability and Performance of Listed Company in China
Author
Zunhuan Shen ; Jiancheng Long
Author_Institution
Sch. of Econ. & Manage., Xidian Univ., Xi´an, China
fYear
2010
fDate
24-26 Aug. 2010
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.
There are a few studies on the relation between the control contestability and performance, but the results are mixed. With the data of 1378 listed company in China during 2000-2007, the paper analysis the impacts of control contestability on performance using 5 ownership restricting indexes. It shows that the degree of ownership restricting is greater, the net profit is better, and Tobin´s Q is lower. Moreover, the restricting of the second large shareholder against the largest shareholder has incentive and tunneling effect, and the impacts of the ownership restricting on net asset per share also has the two effects. These results may be helpful to recognize the influence of ownership restricting further, and they also supply conferences to the designing optimal ownership structure.
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.
There are a few studies on the relation between the control contestability and performance, but the results are mixed. With the data of 1378 listed company in China during 2000-2007, the paper analysis the impacts of control contestability on performance using 5 ownership restricting indexes. It shows that the degree of ownership restricting is greater, the net profit is better, and Tobin´s Q is lower. Moreover, the restricting of the second large shareholder against the largest shareholder has incentive and tunneling effect, and the impacts of the ownership restricting on net asset per share also has the two effects. These results may be helpful to recognize the influence of ownership restricting further, and they also supply conferences to the designing optimal ownership structure.
Keywords
investment; China listed company; control contestability; corporate ownership; net asset per share; ownership restricting degree; ownership restricting index; shareholder restriction; Companies; Cost accounting; Economics; Educational institutions; Europe; Finance; Tunneling;
fLanguage
English
Publisher
ieee
Conference_Titel
Management and Service Science (MASS), 2010 International Conference on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-5325-2
Type
conf
DOI
10.1109/ICMSS.2010.5575920
Filename
5575920
Link To Document