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R., and D. Ferreira, &#8220;One share \u2013 One vote: The empirical evidence&#8221;, Review of Finance 12 (2008): 51-91.<\/p>\n<p>Baran, L., A. Forst, and M. T. Via, &#8220;Dual class share structure and innovation&#8221;, Available at SSRN 3183517 (2019).<\/p>\n<p>Hauser, S., and B. Lauterbach, &#8220;The value of voting rights to majority shareholders: Evidence from dual-class stock unifications&#8221;, Review of Financial Studies 17.4 (2004): 1167-1184.<\/p>\n<p>Howell, J. W., &#8220;The dual class stock structure in the United States&#8221;, PhD thesis, University of Georgia (2010).<\/p>\n<p>Howell, J. W. &#8220;The survival of the US dual class share structure&#8221;, Journal of Corporate Finance 44 (2017): 440-450.<\/p>\n<p>Masulis, R. W., C. Wang, and F. Xie, &#8220;Agency problems at dual-class companies&#8221;, The Journal of Finance 64.4 (2009): 1697-1727.<\/p>\n<p>Maury, B., and A. Pajuste. &#8220;Private benefits of control and dual-class share unifications.&#8221; Managerial and Decision Economics 32.6 (2011): 355-369.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u90b9\u5b8f \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u91d1\u878d\u5b66\u6559\u6388<\/strong><\/p>\n<p>\uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e00\u5e74\u4e09\u6708\u5341\u4e03\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\u3002\uff09<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"tags":[1642,657],"class_list":["post-138649","thought-leadership","type-thought-leadership","status-publish","hentry","tag-1642","tag-finance-sc","leadership-topic-categories-hkej-column-sc","in-the-media-topic-categories-faculty-sc"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, &quot;One share \u2013 One vote: The empirical evidence&quot;, Review of Finance 12 (2008): 51-91. Baran, L., A. 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, &quot;One share \u2013 One vote: The empirical evidence&quot;, Review of Finance 12 (2008): 51-91. Baran, L., A. Forst, and M.\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/hkej-column\/embracing-the-dual-class-share-structure-in-asia\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2021-03-18T01:01:12+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2021-03-17T03:25:45+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u4e9a\u6d32\u8fce\u6765\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u7684\u5951\u673a - HKU Business School\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u9999\u6e2f\u4f5c\u4e3a\u5168\u7403\u4e00\u5927\u91d1\u878d\u4e2d\u5fc3\uff0c\u96c6\u8d44\u6d3b\u52a8\u9891\u7e41\uff0c\u5728\u9996\u6b21\u516c\u5f00\u62db\u52df\u96c6\u8d44\u989d\u65b9\u9762\u4e00\u76f4\u4f4d\u4e8e\u524d\u5217\uff1b\u7136\u800c\uff0c\u5728\u5438\u5f15\u65b0\u7ecf\u6d4e\u548c\u521b\u65b0\u516c\u53f8\u6765\u6e2f\u4e0a\u5e02\u65b9\u9762\uff0c\u8fd1\u5e74\u4e5f\u9762\u4e34\u4e0d\u5c11\u56fd\u9645\u4e0a\u548c\u533a\u57df\u95f4\u7684\u6311\u6218\u3002\u4e3a\u5e94\u5bf9\u8fd9\u4e9b\u6311\u6218\uff0c2018\u5e74\u9999\u6e2f\u5141\u8bb8\u62df\u4e0a\u5e02\u516c\u53f8\u91c7\u7528\u300c\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u300d\uff0c\u7b14\u8005\u5c06\u5728\u4e0b\u6587\u5c31\u6b64\u52a0\u4ee5\u627c\u8981\u5206\u6790\u3002 \u4f55\u8c13\u300c\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u300d\uff1f 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B\u80a1\u7531\u516c\u53f8\u521b\u529e\u4eba\u6216\u521b\u529e\u4eba\u5bb6\u65cf\u6301\u6709\uff0c\u4ee5\u638c\u63e1\u5bf9\u516c\u53f8\u7684\u63a7\u5236\u6743\uff0c\u5f80\u5f80\u4e0d\u5728\u5e02\u573a\u4e0a\u516c\u5f00\u4ea4\u6613\u3002\u867d\u7136\u6295\u7968\u6743\u6709\u522b\uff0c\u4f46A\u3001B\u4e24\u7c7b\u80a1\u4efd\u4e00\u822c\u90fd\u4eab\u6709\u73b0\u91d1\u6d41\u6743\uff08\u53ef\u83b7\u6d3e\u80a1\u606f\uff09\u3002 \u7f18\u8d77\u4e0e\u76db\u884c\u4e4b\u8def \u53cc\u91cd\u80a1\u6743\u67b6\u6784\u662f\u7f8e\u56fdInternational 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2009\u81f32013\u5e74\u671f\u95f4\uff0c\u7f8e\u56fd\u9996\u6b21\u516c\u5f00\u62db\u80a1\u7684\u516c\u53f8\u4e2d\u5c31\u670916%\u91c7\u7528\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u3002\u81f3\u4e8e\u6b27\u6d32\uff08\u4f8b\u5982\u745e\u5178\u3001\u4e39\u9ea6\u3001\u745e\u58eb\u3001\u610f\u5927\u5229\u3001\u82ac\u5170\uff09\uff0c\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u867d\u7136\u4f20\u7edf\u4e0a\u6bd4\u7f8e\u56fd\u66f4\u4e3a\u98ce\u884c\uff0c\u4f46\u603b\u7684\u8d8b\u52bf\u662f\u9010\u5e74\u4e0b\u964d\u3002\u6839\u636e\u673a\u6784\u80a1\u4e1c\u670d\u52a1\uff08Institutional Shareholder 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, &quot;One share \u2013 One vote: The empirical evidence&quot;, Review of Finance 12 (2008): 51-91. Baran, L., A. Forst, and M.\" \/>\n\t\t<script type=\"application\/ld+json\" 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\\u53c2\\u8003\\u6587\\u732e Adams, R., and D. Ferreira, \\\"One share \\u2013 One vote: The empirical evidence\\\", Review of Finance 12 (2008): 51-91. Baran, L., A. 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, \"One share \u2013 One vote: The empirical evidence\", Review of Finance 12 (2008): 51-91. Baran, L., A. 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, \"One share \u2013 One vote: The empirical evidence\", Review of Finance 12 (2008): 51-91. Baran, L., A. Forst, and M.","inLanguage":"zh-CN","isPartOf":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/#website"},"breadcrumb":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/hkej-column\/embracing-the-dual-class-share-structure-in-asia\/#breadcrumblist"},"datePublished":"2021-03-18T09:01:12+08:00","dateModified":"2021-03-17T11:25:45+08:00"},{"@type":"WebSite","@id":"https:\/\/www.hkubs.hku.hk\/sc\/#website","url":"https:\/\/www.hkubs.hku.hk\/sc\/","name":"HKU Business School","inLanguage":"zh-CN","publisher":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/#organization"}}]},"og:locale":"en_US","og:site_name":"HKU Business School -","og:type":"article","og:title":"\u4e9a\u6d32\u8fce\u6765\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u7684\u5951\u673a - HKU Business 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\u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, &quot;One share \u2013 One vote: The empirical evidence&quot;, Review of Finance 12 (2008): 51-91. Baran, L., A. Forst, and M.","og:url":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/hkej-column\/embracing-the-dual-class-share-structure-in-asia\/","article:published_time":"2021-03-18T01:01:12+00:00","article:modified_time":"2021-03-17T03:25:45+00:00","twitter:card":"summary","twitter:title":"\u4e9a\u6d32\u8fce\u6765\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u7684\u5951\u673a - HKU Business 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\u5bf9\u65b0\u516c\u53f8\u800c\u8a00\uff0c\u7531\u4e8e\u589e\u957f\u673a\u9047\u8f83\u5145\u8db3\uff08\u53d1\u5c55\u6210\u719f\u7684\u516c\u53f8\u5219\u76f8\u5bf9\u6709\u9650\uff09\uff0c\u6b64\u4e00\u67b6\u6784\u8db3\u4ee5\u4e3a\u5176\u521b\u9020\u51c0\u6536\u76ca\uff08\u51c0\u6210\u672c\uff09\u3002\u6b27\u7f8e\u56fd\u5bb6\u5728\u53cc\u91cd\u80a1\u6743\u67b6\u6784\u7684\u91c7\u7528\u548c\u9000\u51fa\u65b9\u9762\u7684\u4e30\u5bcc\u7ecf\u9a8c\uff0c\u53ef\u4f9b\u4e9a\u6d32\u533a\u5185\u7684\u516c\u53f8\u3001\u8bc1\u5238\u4ea4\u6613\u6240\u4ee5\u53ca\u76d1\u7ba1\u673a\u6784\u501f\u9274\u3002\u4e3e\u4f8b\u6765\u8bf4\uff0c\u76d1\u7ba1\u673a\u6784\u5e94\u9f13\u52b1\u516c\u53f8\u8ba2\u5b9a\u9884\u8bbe\u65f6\u9650\u7684\u300c\u65e5\u843d\u6761\u6b3e\u300d\uff0c\u4ee5\u4fbf\u516c\u53f8\u53ef\u6309\u6e05\u6670\u7684\u65f6\u95f4\u8ba1\u5212\u8131\u79bb\u53cc\u91cd\u80a1\u6743\u67b6\u6784\uff0c\u5e76\u63d0\u4f9b\u76f8\u5e94\u7684\u8bf1\u56e0\uff0c\u4f8b\u5982\u4f18\u5148\u8003\u8651\u6279\u51c6\u5176\u4e0a\u5e02\u7533\u8bf7\u7b49\u3002 \u53c2\u8003\u6587\u732e Adams, R., and D. Ferreira, &quot;One share \u2013 One vote: The empirical evidence&quot;, Review of Finance 12 (2008): 51-91. Baran, L., A. 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