Objective
Qualified Foreign Institutional Investors (QFIIs) potentially import practices of shareholder activism that can improve corporate governance in emerging economies’ stock markets. This proposal will scrutinize this proposition in the context of China. To do this, it explores the impact of QFIIs’ institutional activism, especially European QFIIs, on corporate governance in Chinese listed companies both in theory and in practice using the interdisciplinary methods of an economic analysis of law and quantitative analysis. The first objective is to conduct a theoretical analysis on the motivations behind QFIIs’ investments and their behavior as shareholders, supported by an analysis of data on companies targeted by QFIIs between 2003 and 2015. The aim is to find out whether QFIIs engage in shareholder activism in corporate China, especially following Chinese policy changes in relation to the regulation of QFIIs in 2006 and 2012. The Second objective is to conduct an empirical study by way of event study and multiple regression on the correlation between QFIIs stock-targeting/stockholding and the performance of Chinese listed companies over the same period, in order to identify the effectiveness of QFIIs’ institutional activism in improving corporate governance in Chinese listed companies. The working hypothesis of this proposal is that QFIIs may not engage in activism because of the speculative nature of institutional investors, and therefore that policy changes of 2006 and 2012 may not have enhanced QFIIs’ activism in corporate China. This suggests that further policy changes may be required, both in China and in Europe, if QFIIs are to engage in activism which benefits both China and their end beneficiaries. An appropriate set of policy recommendations will be identified and addressed to policymakers and investors in both China and EU.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.3. - EXCELLENT SCIENCE - Marie Skłodowska-Curie Actions
MAIN PROGRAMME
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H2020-EU.1.3.2. - Nurturing excellence by means of cross-border and cross-sector mobility
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-MSCA-IF-2015
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
S10 2TN SHEFFIELD
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.