Publisher's Synopsis
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.
