Download or read book Derivative Actions and Corporate Governance in China written by Jingchen Zhao and published by Edward Elgar Publishing. This book was released on 2022-12-06 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines corporate governance rules in China, and highlights the deficiencies in current company law, with the purpose of arguing for a more effective derivative action mechanism, for the benefit of shareholders and their companies.
Download or read book Corporate Governance in China written by Qingxiu Bu and published by Springer Verlag. This book was released on 2014-02-14 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining derivative action, which enables shareholders to gain redress for wrongs done to their company and deters breaches of directors' fiduciary duties, this book considers the use of such measures in China, which lacks adequate corporate governance tools.
Download or read book Corporate Governance in China written by Bu Qingxiu and published by Springer. This book was released on 2016-05-09 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the derivative action, an important corporate governance tool which is commonly considered to serve two basic functions, i.e., enabling shareholders to gain redress for a wrong done to their company and deterring potential breaches of directors’ fiduciary duties. This book critically examines the derivative action from theoretical, evolutionary, and comparative perspectives. It considers how controversial issues such as locus standi, demand requirements, indemnity cost orders, information asymmetry and res judicata are approached in selected civil law countries as well as throughout the Commonwealth. The book also assesses whether derivative litigation could fulfill a similar role in China, which is one of the most rapidly developing economies in the world, yet lacks adequate corporate governance mechanisms. The ultimate aim discussed in the book is how to establish a remedial mechanism which makes derivative actions more accessible and consistent, while maintaining the balance between corporate efficiency and protecting minority shareholders’ interests. Lastly, based on different approaches in the latest reforming infrastructure, it explores whether there is a general converging trend for derivative actions between the two major legal systems.
Download or read book The Derivative Action and Good Corporate Governance in China written by Zhong Zhang and published by LAP Lambert Academic Publishing. This book was released on 2011-04 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Good corporate governance is crucial for the long- term success of Chinese economy. To achieve good corporate governance, legal liability is essential, because only legal liability can deter serious managerial misbehavior. Legal liability comes from both public and private enforcement of law, but public enforcement of law has various limitations. In private enforcement of law, the derivative action is preferable to the securities class action, not just because the later is unrealistic in China. For the derivative action to become a reality, appropriate legal rules should be in place. The traditional common law is problematic. The strategy adopted under the Chinese derivative action setting a minimum shareholding requirement as a condition for bringing a suit entails that derivative actions would not be vigorously pursued. The admission of derivative actions should be decided case by case according to the interests of the company and the responsibility of assessing the admissibility of cases should be assigned to the court rather than to the company. The assessment should be based on the probability of success and the potential net recoveries from the case.
Download or read book The Shareholder Derivative Action and Good Corporate Governance in China written by Zhong Zhang and published by . This book was released on 2015 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the high expectation for the shareholder derivative action to play an important role in improving corporate governance in China, only one lawsuit has ever been brought since it was formally introduced in 2005, so far as listed companies are concerned. Above all, the 1% minimum shareholding that plaintiffs are required to satisfy by law is a barrier to derivative suits. However, it is impossible to establish and reduce the threshold figure to an appropriate level, and actually the minimum shareholding requirement as a mechanism for screening out frivolous litigation is inherently flawed. On the other hand, the nature of the derivative action determines that the strategy based upon judicial control rather than a minimum shareholding requirement cannot work properly in China, where the judiciary is weak, unsophisticated and riddled with corruption. When the judicial system is in such a state of condition, it is unrealistic that the derivative action -- and, indeed, the private enforcement of law in general -- can play a significant role in corporate governance. The findings in this paper raise a question of how corporate governance can indeed be improved in a country where the judiciary is incompetent to perform its role.
Download or read book Derivative Actions in Chinese Company Law written by Shaowei Lin and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivative actions, which allow individual shareholders to sue controlling shareholders and managers on behalf of the company, are designed to deter and combat mismanagement. However, the need to balance the interests of minority shareholders and corporate efficiency in a countryè^--s company law demands legal crafting that is both of a high order and responsive to the countryè^--s distinctive character, and solutions in this respect are quite different across jurisdictions. China, the second-largest economy in the world today, therefore merits special consideration.
Download or read book A Comparative Study of Shareholders Derivative Actions written by Xiaoning Li and published by Kluwer Law International. This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book shareholders' derivative actions in England, The US, Germany and China are being compared. Western countries among themselves take differing approaches towards derivative action in practice, including its very role and the mechanisms for regulating it. As far as the function of derivative action is concerned, The author concludes that (1) derivative actions play different roles in all these countries; (2) their function may vary according To The agency problems to be solved and the type and size of the companies involved; (3) derivative action is only one method in a comprehensive system of corporate governance. Comparative study shows that the issue of how to strike a balance between corporate efficiency and protection For The company and its minority shareholders is key in derivative actions.
Download or read book The Derivative Action and Good Corporate Governance in China written by Zhong Zhang and published by . This book was released on 2015 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Derivative Action in Asia written by Dan W. Puchniak and published by Cambridge University Press. This book was released on 2012-06-28 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: In-depth analysis of the derivative action in Asia - a critical part of Asian corporate law and governance.
Download or read book Enforcement of Corporate and Securities Law written by Robin Hui Huang and published by Cambridge University Press. This book was released on 2017-09-28 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assembles the world's most authoritative specialists for a comparative analysis of the enforcement of corporate and securities laws in thirteen national jurisdictions. It examines the enforcement of corporate and securities laws across the globe and across different legal and political systems from an in-depth comparative perspective.
Download or read book The Eligibility of Claimants to Commence Derivative Litigation on Behalf of China s Joint Stock Limited Companies written by Jingchen Zhao and published by . This book was released on 2018 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivative actions in modern company law play a crucial role in promoting the efficiency of corporate law and the soundness of corporate governance. However, since China's inauguration of derivative action in 2005, now enshrined in s 151 of the Chinese Company Law (CCL) 2013 (revised in 2013 and enforced on 1 March 2014), there have been complications surrounding the eligibility of shareholder claimants in terms of taking derivative action, especially for joint stock limited liability companies (JSLCs). Under art 151 of the CCL 2013, JSLCs are treated differently from limited liability companies (LLCs). Standing requirements are imposed on shareholders in JSLCs, whereas any shareholder has the right to sue in LLCs. Shareholders who intend to bring derivative action are required to separately or jointly hold 1 per cent or more of the company's shares for 180 consecutive days. These prescribed thresholds may not only prevent trivial or malicious suits but also hinder the effective enforcement of the mechanism. Through doctrinal, comparative and empirical analyses of the eligibility of claimants to bring derivative action in JSLCs, the article puts forward proposals for how the effectiveness of the regime in China can be improved in hope of increasing the effectiveness of the mechanism and the enforcement of company law, contributing to the fairness and accountability of corporate governance. It is argued that future revision of laws concerning claimants' eligibility should not only make sure that reasonable shareholders are able to use the mechanism but also take into account current commercial practices, stock market structures and government policy.
Download or read book Transforming Corporate Governance in East Asia written by Curtis Milhaupt and published by Routledge. This book was released on 2008-06-18 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pt. 1. Japan -- pt. 2. Korea -- pt. 3. Greater China (the Mainland and Taiwan) -- pt. 4. Analysis and commentary.
Download or read book Understanding Chinese Company Law Second Edition written by Minkang Gu and published by Hong Kong University Press. This book was released on 2010-07-01 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: In China, the thirty-year economic reform reflects the process of moving from planned economy towards market economy. This could be seen From the changes in the 2005 Company Law, which recognizes the owners' property rights and gives more freedoms to them to decide various matters. In this new edition, besides offering a systemic the constitution of companies, the establishment of various companies, role and function of various parties in corporate governance, and corporate financing, Gu Minkang highlights the major changes in the 2005 Company Law, and addresses many new issues such as shareholders' derivative action, American limited liability company, and asset restructuring of listed companies. Another important feature is a comparison between the 1993 Company Law and the 2005 Company Law that will facilitate reading and understanding. This comprehensive and up-to-date presentation of Chinese company law will be of value to all who are involved in business with and in China and their legal advisors, and to students of Chinese company law.
Download or read book Experience of Internationalization of Chinese Corporate Law and Corporate Governance written by Junhai Liu and published by . This book was released on 2015 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the Chinese approach to corporate governance. It begins with a survey of the historical foundations of the modern corporate law of China. The unique relationship which arose between Chinese markets and foreign suppliers from the consular judiciary power enjoyed by many nations in the early twentieth century and its impact on the development of Chinese corporate law is considered first. A specific focus is the circumstances surrounding the drafting of the first Chinese Corporate Law of 1904, enacted with the goal of making China a strong commercial power. The hybrid nature of the first Chinese corporate law, being drawn from Japanese and English structures, and its impact on modern legislative approaches to corporate law form the basis of the discussion of the relationship between the facets of the modern corporation in China. The position of shareholders as the corporate power centre, their relationship with the boards of directors and supervisors, and the powers of each are noted.Another core focus is the method of enforcement of the corporate law in China. The proper plaintiff, defendant and the possibility of derivative actions under the Corporate Law of 2013 are discussed, with a particular focus on the ability of shareholders to bring actions to protect the interests of the corporation. These powers must be exercised so as to guard against possible abuses of restrictions on action by wrongdoing supervisors and directors acting in collusion. The article concludes with an analysis of the role of the Chinese Securities Regulatory Commission (CSRC) in improving corporate governance. Significantly, it is noted, that the possibility of class actions in China can be used to hold corporations, controlling shareholders, and management accountable for exercises of power which are against the public interest.
Download or read book Chinese Corporate Governance written by Yong Kang and published by Rand Corporation. This book was released on 2008 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: As China has aligned itself more closely with the international economy, it has also sought to adopt more Western-style corporate governance mechanisms. This report provides an overview of overview of corporate governance mechanisms in China, as well as an examination of continuing challenges and policy implications.
Download or read book Enforcement of Corporate Governance in Asia written by and published by Org. for Economic Cooperation & Development. This book was released on 2007 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few years, most Asian jurisdictions have substantially revamped their laws, regulations and other corporate governance norms. However, enforcement remains a significant challenge and ldquo;an unfinished agendardquo;. This publication offers a unique snapshot of how corporate governance is being enforced in Asia. it provides policy makers, judges, investors, board members and stakeholders with cases studies and analysis that illustrate how regulators deal with enforcement in practice.
Download or read book Corporate Governance in Asia written by Bruce Aronson and published by Cambridge University Press. This book was released on 2019-01-17 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance in Asia continues to attract global interest due to its critical importance to the world's fastest-growing region. The study of governance systems remains complicated by Asia's mix of legal traditions, market systems and social history. This comprehensive textbook provides a comparative overview of the corporate governance framework, theory and practice in major Asian countries. Students at all levels will gain an understanding of corporate governance systems in Asia and how they compare with models attributed to the US, the UK and Europe. Featuring six foundational chapters focusing on general theory and corporate governance systems and eight country-specific chapters, this book can be used as the basic textbook for a general course on comparative corporate governance or as an essential reference about corporate governance in Asia for a wide variety of professionals including academics, jurists, students, practitioners, investors, creditors, policymakers and analysts.
