ABSTRACT
This is a study of corporate governance, with particular reference to listed companies in China. The theoretical framework underpinning the book is the incomplete contracts, or property rights, approach which recognises that issues related to firms’ ownership structure, capital structure1 and corporate control cannot be fully understood if one assumes a world of comprehensive contracts that can define all future contingencies. Rather, contracts are incomplete and economic agents are endowed with rights to specify actions in future contingencies not specified in prior contracts, that is they are endowed with property or ownership rights.
