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  1. Home
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  3. Government Intervention in the Reorganisation of Listed Companies in China
  • Cited by 1
Publisher:
Cambridge University Press
Online publication date:
December 2019
Print publication year:
2020
Online ISBN:
9781108634557
DOI:
https://doi.org/10.1017/9781108634557
Subjects:
Corporate Law, Financial Law, Law
Information

Book description

As a comprehensive empirical study on the bankruptcy re-organisations of listed companies in China, this book examines the re-organisation of fifty-three listed companies entering bankruptcy between 2007 and 2018. It features raw data from thousands of public announcements of listed companies, helping to present a precise panorama of bankruptcy law in China. The author discusses the nature, extent and appropriateness of government intervention in bankruptcies of listed companies. It also examines the effects of bankruptcy institutions established by the bankruptcy laws to constrain government intervention. The findings suggest that such laws have been inadequate to prevent government intervention. In fact, the biggest obstacle to the smooth implementation of China's reorganisation system is government intervention, one distinct characteristic of the socialist market economy. The book will have broader relevance in terms of informing the debate concerning the government's continuing intervention in economic activity in China.

Reviews

‘This book makes a significant and much-needed contribution to the emerging literature concerning Chinese bankruptcy law and practice. It provides valuable insights into the nature and extent of the government's role in the reorganisation of listed companies. In addition to analysing and explaining corporate bankruptcy law in China, Dr Zhao enhances our general understanding of China's socialist market economy, the ongoing tension between law and policy in China and the impact of state and administrative priorities on China's legal institutions.'

Andrew Godwin - Director of Studies, Banking and Finance Law, Melbourne University

‘This book presents a clearly written and cogent account of the Chinese bankruptcy system.'

Lynn M. LoPucki - University of California

‘The roles that the Chinese Government plays in the reorganisation of listed companies under the Enterprise Bankruptcy Law (EBL) is a fascinating topic with great practical significance. Scholars have commented on it, but this is the first sustained and in-depth study using a combination of doctrinal research, historical research, empirical research and case studies. This comprehensive coverage enables readers to have a holistic, nuanced and evidence-based understanding of the operation of the EBL in practice and in particular, the reorganisation of listed companies. Lucidly written and cogently argued, Professor Zhao should be commended for making a weighty contribution to the developing scholarship on the EBL.'

Wee Meng Seng - Deputy Chairman, Director of Corporate Law, National University of Singapore

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