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This paper sets up models for the financial distress restructuring strategies in both cases that the interests of shareholder and manager are consistent or not in order to study the effect of restructuring strategies on the condition of "information asymmetry". Through the quantitative analysis of earning expectations of the shareholder, manager and creditor, this paper studied the optimal...
The phenomenon of dominant majority shareholders is widespread among Chinapsilas listed companies, despite it could reduce the agent cost between shareholders and managers, but major interest conflict often occur between majority shareholder and exterior minority shareholders. Due to ldquothe information asymmetryrdquo between them, majority shareholder could obtain private interest through ldquomanagingrdquo...
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