dc.contributor.authorChen, Zhihong
dc.contributor.authorKe, Bin
dc.contributor.authorYang, Zhifeng
dc.date.accessioned2013-12-10T01:32:44Z
dc.date.available2013-12-10T01:32:44Z
dc.date.copyright2013en_US
dc.date.issued2013
dc.identifier.citationChen, Z., Ke, B., & Yang, Z. (2013). Minority shareholders' control rights and the quality of corporate decisions in weak investor protection countries : A natural experiment from China. The accounting review, 88(4), 1211-1238.en_US
dc.identifier.issn0001-4826en_US
dc.identifier.urihttp://hdl.handle.net/10220/18185
dc.description.abstractUsing a 2004 Chinese securities regulation that requires equity offering proposals to obtain the separate approval of voting minority shareholders, we examine whether giving minority shareholders increased control over corporate decisions helps reduce value-decreasing corporate decisions for firms domiciled in weak investor protection countries. We find that the regulation deters management from submitting value-decreasing equity offering proposals in firms with higher mutual fund ownership. There is also weak evidence that minority shareholders are more likely to veto value-decreasing equity offering proposals in firms with higher mutual fund ownership in the post-regulation period. Overall, our evidence suggests that in weak investor protection countries, the effect of granting minority shareholders increased control over corporate decisions on the quality of corporate decisions depends on the composition of minority shareholders.en_US
dc.format.extent51 p.en_US
dc.language.isoenen_US
dc.relation.ispartofseriesThe accounting reviewen_US
dc.rights© 2013 American Accounting Associationen_US
dc.subjectDRNTU::Business::Accounting::Financial statements and analysis
dc.titleMinority shareholders' control rights and the quality of corporate decisions in weak investor protection countries : a natural experiment from Chinaen_US
dc.typeJournal Article
dc.contributor.schoolCollege of Business (Nanyang Business School)en_US
dc.identifier.doihttp://dx.doi.org/10.2308/accr-50424


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