Full Description
This book investigates stakeholders' interests, market players, and governance models for the takeover market in the changing global economic orders. Authors from the UK, Germany, the Netherlands, Australia, and China discuss takeovers in the context of China as a rising power in the global M&A market and re-examine takeover as an efficient method for corporate competition, consolidation, and restructuring. China has come to embrace takeovers as a market practice and is seeking directions for further reforms of its law, regulatory model, and banking system in order to compete with other economic powers. Yet, China is at a very different economic development stage and has different legal and political structures. State-owned enterprises dominate the Shanghai and Shenzhen stock markets - a very different landscape from UK and European exchanges. Researchers and policy makers are currently developing options in response to needs for reform. Recently, China has also announced the opening of its financial markets to foreign ownership. This book reflects on the UK and European models and focuses on the policy choices for China to transform its capital market. The book is of interest to postgraduate students and researchers (LLM, PhD, postdocs), law and management/finance academics, and policy makers.
Contents
Understanding takeover law in the global context.- Conflict of Goals in Takeover Law: The Impossible Regulatory Alignment between UK and China.- On the Supply Side of Western Hostile Takeover Law and its Implications for China.- The Role and Future of Self-Regulation in the Market for Corporate Control: A Comparative Narrative of the Two Models in the UK and China.- Comparative Aspects of Takeover Rules - German Disclosure Rules in the European Context.- "The Takeover Mirror" On the other Side of the Looking Glass, the Regulatory Checks are ex post, not ex ante.- Mergers and Competition in Digital Markets: Learning from our mistakes.- The Amendment of Anti-monopoly Law of Merger Remedies: Based on the Empirical Analysis in China.- Evaluating the Mandatory Bid Rule for Takeover Law in China: An Empirical and Comparative Analysis.
