This book explores the rationalities and functions of securities markets and takeover activities. Focusing on the Chinese experience of utilizing the securities market as an effective mechanism of corporate control, this volume analyses the future development of China's financial market in the era of economic globalization. Providing an overview of the historical development of the securities market and a literature review of the economic functions of stock markets, Securities Markets and Corporate Governance also examines the legal regimes governing securities markets and takeovers in some leading corporate economies including the US, Germany, Japan and the UK. This volume then focuses on the Chinese experience, proposing a model which balances internal corporate governance and external market control for China.
'This is the third substantial work by Yuwa Wei on Chinese company law. Her earlier works dealt with joint ventures and comparative corporate governance and were well received. The present work deals with securities regulation and the market for corporate control and, like its predecessors, is scholarly and lucidly written.' John H. Farrar, Bond University, Australia and University of Auckland, New Zealand 'There is a wealth of information and discussion in the book not only on corporate governance and securities markets in China but also on many other issues of policy and history that one can usefully study in the context of the book's theme. Beginning with a global context of securities markets, regulation and governance the book proceeds to discuss specifics relating to China, and concludes with an assessment of how, from a corporate governance perspective, China could cope with international competition in an era of globalisation. Overall, the book is a good introductory primer to the subject with particular reference to China.' VISION - The Journal of Business Perspective