The emergence of shareholder protection in China

Chen LIN, Clement Chun-Yau SHUM, Sonia Man-Lai WONG

Research output: Book Chapters | Papers in Conference ProceedingsBook ChapterResearchpeer-review

4 Citations (Scopus)

Abstract

This chapter seeks to provide an understanding of how legal protection for shareholders gradually emerged in China. Specifically, we trace the underlying forces driving the emergence of legal protection to shareholders to the vested interests of the central government. We show that the evolution of the legal developments is consistent with the government’s changing interests in the stock market, with the provision of shareholder protection becoming an increasingly important instrument for the government to serve its interests. To a certain extent, the legal developments in China’s stock market show that the country’s legal systems still maintain the ancient tradition whereby ‘‘[t]he state promulgated laws to make sure its interests were advanced. As this was done, the interests of private individuals or groups of such persons were often protected as indirect results’’ (Jones 2003, pp. 15–56).
Original languageEnglish
Title of host publicationChina's emerging financial markets : challenges and opportunities
EditorsJames R. BARTH, John A. TATOM, Glenn YAGO
PublisherSpringer
Pages593-616
Number of pages24
ISBN (Print)9780387937694
DOIs
Publication statusPublished - 2009

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shareholder
China
legal protection
stock market
state law
legal system
human being
Group

Keywords

  • Legal protections to investors
  • Political economy of legal development
  • Stock market development

Cite this

LIN, C., SHUM, C. C-Y., & WONG, S. M-L. (2009). The emergence of shareholder protection in China. In J. R. BARTH, J. A. TATOM, & G. YAGO (Eds.), China's emerging financial markets : challenges and opportunities (pp. 593-616). Springer. https://doi.org/10.1007/978-0-387-93769-4_20
LIN, Chen ; SHUM, Clement Chun-Yau ; WONG, Sonia Man-Lai. / The emergence of shareholder protection in China. China's emerging financial markets : challenges and opportunities. editor / James R. BARTH ; John A. TATOM ; Glenn YAGO. Springer, 2009. pp. 593-616
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LIN, C, SHUM, CC-Y & WONG, SM-L 2009, The emergence of shareholder protection in China. in JR BARTH, JA TATOM & G YAGO (eds), China's emerging financial markets : challenges and opportunities. Springer, pp. 593-616. https://doi.org/10.1007/978-0-387-93769-4_20

The emergence of shareholder protection in China. / LIN, Chen; SHUM, Clement Chun-Yau; WONG, Sonia Man-Lai.

China's emerging financial markets : challenges and opportunities. ed. / James R. BARTH; John A. TATOM; Glenn YAGO. Springer, 2009. p. 593-616.

Research output: Book Chapters | Papers in Conference ProceedingsBook ChapterResearchpeer-review

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AB - This chapter seeks to provide an understanding of how legal protection for shareholders gradually emerged in China. Specifically, we trace the underlying forces driving the emergence of legal protection to shareholders to the vested interests of the central government. We show that the evolution of the legal developments is consistent with the government’s changing interests in the stock market, with the provision of shareholder protection becoming an increasingly important instrument for the government to serve its interests. To a certain extent, the legal developments in China’s stock market show that the country’s legal systems still maintain the ancient tradition whereby ‘‘[t]he state promulgated laws to make sure its interests were advanced. As this was done, the interests of private individuals or groups of such persons were often protected as indirect results’’ (Jones 2003, pp. 15–56).

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LIN C, SHUM CC-Y, WONG SM-L. The emergence of shareholder protection in China. In BARTH JR, TATOM JA, YAGO G, editors, China's emerging financial markets : challenges and opportunities. Springer. 2009. p. 593-616 https://doi.org/10.1007/978-0-387-93769-4_20