Wang, W. (2019) The mechanisms of institutional activism: qualified foreign institutional investors in China. Capital Markets Law Journal, 14 (1). pp. 78-113. ISSN 1750-7219
Abstract
Key points: - This article examines the mechanisms available to institutional investors in China, especially Qualified Foreign Institutional Investors (QFIIs), that may allow them to engage in activism in publicly traded corporations. - The presumption behind China’s QFIIs policy is that foreign institutional investors will engage in activism and improve the corporate governance of Chinese listed companies. - The article explores the mechanisms available to QFIIs and identifies the extent to which they have the capacity or potential capacity to engage in shareholder activism. - The article concludes that QFIIs could potentially form shareholder consortia. However, based on Shapley-Shubik and Banzhaf-Coleman indices which measure QFIIs’ voting power, it further concludes that QFIIs do not have the capacity or even the potential capacity to form shareholder consortia with sufficient weight to engage in activism.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author(s) (2018). Published by Oxford University Press. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited. |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > School of Law (Sheffield) |
Funding Information: | Funder Grant number EU Marie Sklodowska Curie Fellowship Scheme 145567 |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 23 Apr 2018 15:29 |
Last Modified: | 03 Apr 2019 12:22 |
Status: | Published |
Publisher: | Oxford University Press |
Refereed: | Yes |
Identification Number: | 10.1093/cmlj/kmy035 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:129870 |