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英文标题：
《De Facto Control: Applying Game Theory to the Law on Corporate
Nationality》
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作者：
Russell Stanley Q. Geronimo
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最新提交年份：
2017
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英文摘要：
One unexamined assumption in foreign ownership regulation is the notion that majority voting rights translate to \'effective control\'. This assumption is so deeply entrenched in foreign investments law that possession of majority voting rights can determine the nationality of a corporation and its capacity to engage in partially nationalized economic activities. The fact, however, is that minority stockholders can possess a degree of voting power higher than what their shareholding size might suggest. Voting power is not the same as voting weight and is not measured simply by the proportion or number of votes a stockholder may cast in a stockholder meeting. This paper proposes and demonstrates a method for calculating \'effective control\' based on given voting thresholds and voting weights. It also shows instances where the \'effective control\' of a foreign minority stockholder appears to comply with foreign equity limitations, but has a \'real\' voting power grossly beyond the allowable threshold.
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中文摘要：
外国所有权监管中一个未经审查的假设是，多数表决权转化为“有效控制”。这一假设在外国投资法中根深蒂固，拥有多数表决权可以决定公司的国籍及其从事部分国有化经济活动的能力。然而，事实是，少数股东可以拥有比其持股规模更高的投票权。投票权与投票权重不同，不能简单地以股东在股东大会上的投票比例或票数来衡量。本文提出并演示了一种基于给定投票阈值和投票权重计算“有效控制”的方法。它还显示了外国少数股东的“有效控制”似乎符合外国股权限制，但“实际”投票权大大超过了允许的阈值的情况。
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分类信息：
一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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