Title :
Research on tunneling in relaxing the ban on purchases of restricted stock
Author_Institution :
Sch. of Econ. Manage., Henan Polytech. Univ., Jiaozuo, China
Abstract :
This paper established a tunneling model to maximize the Market Capitalization of listed companies from the angle of propping and tunneling, and investigates the tunneling in relaxing the ban allowing purchases of restricted stock. It was found that, control right and separation of ownership and control rights aggravate tunneling, but ownership right can restrain tunneling.
Keywords :
stock markets; control right; market capitalization; ownership right; ownership separation; restricted stock purchase; tunneling model; Companies; Economics; Estimation; Finance; Indexes; Tunneling; Governance Structure; Restricted Stock; Share Structure; Tunneling;
Conference_Titel :
Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on
Conference_Location :
Deng Leng
Print_ISBN :
978-1-4577-0535-9
DOI :
10.1109/AIMSEC.2011.6010162
