The shareholder structure is a special problem in China. Based on the samples of 952 listed companies reformed, this paper studied the price violation of listed companies in shareholder structure reform. The shareholder structure reform can be divided into seven categories of consideration scheme. This paper applied event-study method to study on the shareholders' wealth effect. The results showed that all reformed companies except stock-shrunk companies could obtain significant increase in wealth.
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Univ Georgia, Terry Coll Business, Athens, GA 30602 USAUniv Georgia, Terry Coll Business, Athens, GA 30602 USA
Bharadwaj, Sundar G.
Tuli, Kapil R.
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Singapore Management Univ, Lee Kong Chian Sch Business, Singapore, SingaporeUniv Georgia, Terry Coll Business, Athens, GA 30602 USA
Tuli, Kapil R.
Bonfrer, Andre
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Australian Natl Univ, ANU Coll Business & Econ, Sch Management Mkt & Int Business, Canberra, ACT 0200, AustraliaUniv Georgia, Terry Coll Business, Athens, GA 30602 USA