Equity Transfer Research Articles

Interpretation Path of Equity Transfer Guarantee Effect from the Perspective of Company Law

In China, the judicial practice has confirmed the effect of the transfer of share rights guarantee, but it is often classified into the standard framework of general transfer of movable property guarantee and lacks the special system consideration in the company law of share rights. Therefore, the commercial purpose of the transfer of share rights guarantee and the market rules it follows can provide an interpretation path in the view of Company law for the affirmation of the validity of the transfer of share rights guarantee. The characteristics of equity transfer guarantee, such as compound power, formal appearance, and common value, should be incorporated into the legal framework. In terms of internal effectiveness, the scope of the rights of the parties should be determined based on the shareholder qualification system of the Company Law. In terms of external effectiveness, it should follow the normative and theoretical purposes of the Company Law, and determine the rights and obligations of each party according to the specific situation.

Research on the "Right of Retraction" Of the Transferee Shareholders in The Process of Equity Transfer of a Limited Liability Company

Research on the "Right of Retraction" Of the Transferee Shareholders in The Process of Equity Transfer of a Limited Liability Company

Research on Legal Issues of Land Value-added Tax under Equity Transfer

Research on Legal Issues of Land Value-added Tax under Equity Transfer

Analysis and Feasible Solution for Legislative Gaps in Notification Procedures in External Equity Transfer

In 2005, the Company Law stipulated the transfer of equity for the first time. However, in the subsequent amendments, the notification procedure for external transfer has always been unclear. As a result, there have been disputes about the time and method of the shareholder notification of the transferor in practice. This paper analyzes the disputes in case judgments before and after the entry into force of 2017 judicial interpretation, as well as the characteristics of asset and person compatibility of Limited Liability Company, and tries to find a feasible solution to alleviate the impact of legislative gaps and strengthen notification obligations. Lastly, the paper gives suggestions for improvement in the companys articles of association and for legislation, which is possible to strike a balance between the trust relationships within companies and the efficiency of business transactions.

Exploration of Equity Transfer and Guarantee System

Exploration of Equity Transfer and Guarantee System

有限责任公司为股东间股权转让提供担保效力问题探究——以典型案例为线索

有限责任公司为股东间股权转让提供担保效力问题探究——以典型案例为线索

A Study on the Application of the Right to Termination of Equity Transfer Contracts with Installment Payment

A Study on the Application of the Right to Termination of Equity Transfer Contracts with Installment Payment

Investigating performance implications of intra‐family ownership successions: Equity transfers with versus without debt creation

AbstractWe relate two routes of intra‐family ownership succession (i.e., succession financed with versus without debt) to post‐succession financial performance. Investigating a sample of 203 privately‐held family businesses, our results show that the succession‐induced performance paths of the two subgroups are significantly different. When debt is used to fund the intra‐family share transfer, financial performance significantly increases in the post‐succession period. This phenomenon is absent when no debt is used to fund succession. We attribute the performance gap to a governance device characterising the debt‐financed succession route: debt creation at succession leads to firm‐level efficiency gains.

Is state-owned enterprise merging private enterprise “market choice” or “space crowding” ? —Based on the motives of equity transfer of mixed-ownership enterprises

Many state-owned enterprises have mergers and acquisitions (M&A) with private enterprises, which has caused private enterprises to worry about their living space being squeezed. Based on 572 data records about equity transfers of Chinese listed companies extracted from CSMAR4.0 from 2013 to 2020, this paper categorized ownership structures into three categories: privatization of state-owned enterprises (Category 1), state-owned enterprises merging private enterprises (Category 2), and state-owned enterprises merging state-owned enterprises (Category 3). The categorical regression of ex-ante equity transfer motivation revealed that the motives for Category 1 conformed to the phenomenon of the “pretty girl gets married first” and “embezzlement view.” Category In contrast, the motives for Category 2 conformed to the “fiscal revenue view.” The categorical regression of ex-post equity transfer motivation showed that all three types significantly improved various efficiencies and represented an optimal allocation of resources. Moreover, it was revealed that the transfer of equity to state-owned enterprises by inefficient private firms in Category 2 also significantly improved enterprise efficiency. Thus, it can be considered as a rational behavior of market selection and never squeezed the space crowding. Further analysis showed that the efficiency improvement is due to the symbiotic development relationship rather than the antagonistic relationship between heterogeneous shareholders. Therefore, it is suggested to initiate market-oriented reform by actively developing ownership mixed-ownership economy and adhering to the “two unwavering” basic economic system.

Research on Investors' Right of First Refusal in Private Equity Investment

The right of first refusal clause for investors in private equity investment is one of the fastest terms to reach agreement between investors and the founding team in investment agreements. However, due to the complexity of transactions in practice and the imperfect relevant regulations, various conflicts and disputes such as shareholder transfer of equity and other shareholders claiming the right of first refusal often occur in practice, which not only affects the internal stability of the company but also affects the interests of third parties. Therefore, this article provides a deep analysis of the right of first refusal through its background and practical value, sorts out and analyzes the key points that may be involved in the exercise of this clause, and puts forward relevant suggestions for the improvement of the right of first refusal. This has important practical significance for both investors to better protect their own rights and interests in practice.

Analysis on the Non-Debt Relief Between the Transferred Shareholders' Liability and the Original One Person Company

The lawsuit of adding or changing the objection of the executed party is unknowable before the parties receiving the court's ruling, so it is very common for the executed party who is changed or added to raise objections to the execution basis in subsequent lawsuits. This paper analyzes a case where the transfer of equity in a one Person company does not exempt the original shareholder from liability for the company's debts, providing a judicial practice reference for the addition or change of objections by the executed party.

Assumption of Capital Contribution Obligations after the Transfer of Equity That Has Not Expired

Assumption of Capital Contribution Obligations after the Transfer of Equity That Has Not Expired

An Investment and Loan Financing Decision Equilibrium in Supply Chain

A financing model for bank loan financing, equity financing, and portfolio financing under the manufacturer's capital constraints is constructed, and the manufacturer's capital level and consumers are discussed in green preference on pricing, green input level, market demand for products, and selection strategies of financing methods. Finally, it is verified by numerical analysis. Consumers' green preference is positively correlated with retail prices, wholesale prices and the level of green investment efforts, market demand for products, and equity transfer ratios acceptable to both parties in equity financing; when the manufacturer's capital constraints are not financing, the manufacturer's initial capital level is positively correlated with manufacturer's wholesale price, and retailer's retail price are negatively correlated, but it is positively correlated with the level of green investment efforts; the greater the bank loan interest rate, the larger the manufacturer's acceptable share transfer ratio.

Crisis and state investment funds with expiration dates: Risks and opportunities in a decarbonization context

AbstractSince the beginning of the COVID‐19 crises the establishment of new state‐owned funds with expiration dates has accelerated. This new type of fund acquires shares or silent partnerships, or it would take over other components of a company's equity. Through recapitalization, the state funds' assets grow when the injection of capital is needed and the funds shrinks during periods of economic recovery. In other words, the expiration date ensures the eventual transfer of equity stakes to private ownership. While this is a sensible choice for avoiding generous public handouts for ailing firms some unintended long‐term risks remain. Many debt and equity investments have been directed into sectors such as the automotive, energy, or aviation industries. These sectors will face increasing pressure in the future due to structural and policy‐induced changes (e.g., decarbonization efforts to reduce climate change).

A Systematic Review of Virtual Reality-Based Education Research Using Latent Dirichlet Allocation: Focus on Topic Modeling Technique

Using virtual reality in the context of education is becoming important since this technology enhances learners’ motivation and performance with transfer of learning, problem-solving skills, educational equity, and multisensory learning. Along with the 4th Industrial Revolution and COVID-19, the attention on virtual reality has been increased again. Some studies reviewed the trends of research on virtual reality-based education, mostly focusing on specific subject matters or areas. The purpose of the study is to investigate the change of research trends in the virtual reality-based education field by implementing the topic modeling analysis based on latent Dirichlet allocation (LDA) technique with 6,755 articles published in the last 30 years (between 1992 and 2022). As a result of this study, it was revealed that the research on virtual reality-based education was clearly divided into the following four periods; 1992–2011, 2012–2016, 2017–2019, and 2020–2022. The main topics for each period were suggested. Here are three major findings of this study. First, it is identified that the weight of “virtual reality for learning and teaching” has increased in recent years. Second, conversely, it is identified that the proportion of “virtual reality in medical education” has decreased relatively recently. It means it is possible to interpret that the proportion of other topics has relatively increased. Third, the topics of “virtual reality education platform” and “virtual reality-based education in rehabilitation” continue to maintain a certain weight. Limitations of this study and further research suggestions are provided based on the results of the study.

The Impact of Rebranding on University Brand Equity

Universities are required to be different from competitors and attract more students. One of the strategies undertaken is rebranding to build stronger brand equity. This research was conducted at a private university in Indonesia to determine the effect of rebranding on brand equity and to analyze differences in brand equity before and after rebranding. This study uses a quantitative approach. The dimensions of university brand equity are brand awareness, perceived quality, brand association, and brand loyalty. Data were collected using a questionnaire survey of students, lecturers, and employees with a total of 268 respondents. Quantitative analysis shows that rebranding has an effect on university brand equity with a low coefficient of determination. The results of the different t-test showed that there was no difference in brand equity before and after the rebranding. From these results, it can be concluded that the brand equity of the old brand was successfully transferred to the new brand with a shift in perception of the dimensions of brand equity. The success of the transfer of brand equity is because the institution respects the history of each of the origin universities. In addition, increasing reputation from high school to university is also one of the strong reasons for the success of brand equity transfer, especially when it is associated with brand awareness, brand association, and perceived quality. This study supports the results of previous studies by Marques et al. (2020) and Beise-Zee (2022).

Closed-loop supply chain value co-creation considering equity crowdfunding

Increasingly serious environmental problems and the important role of consumers in value creation activities have made closed-loop supply chain value co-creation a popular research topic. Equity crowdfunding provides a new way for investors outside the closed-loop supply chain to cooperate with enterprises within the chain. This makes these enterprises much easier to finance and achieve environmental protection goals. However, the impact of equity crowdfunding on value co-creation in closed-loop supply chains has not been studied in depth. This study uses multi-level programming and Karush–Kuhn–Tucker conditions to construct and solve a closed-loop supply chain value co-creation model that considers equity crowdfunding, and obtain the optimal equity transfer ratio. The smartphone closed-loop supply chain is used to analyze the impact of equity crowdfunding on closed-loop supply chain value co-creation through numerical simulation and to propose an effective path to achieve a win–win situation between the economic value and environmental value of the closed-loop supply chain. The research found the following: (1) Although the manufacturer pays attention to consumer value and then its value and the excess income of equity crowdfunding investors are lost, value of the consumer, retailer, remanufacturer, and closed-loop supply chain as well as the environmental value are increased; (2) The manufacturer should actively create conditions to attract consumers to participate in value co-creation, and allocate added value with equity crowdfunding investors according to the equity transfer ratio and investment amount in time; (3) The manufacturer and equity crowdfunding investors should strengthen cooperation, jointly determine the appropriate capital demand and expected yields, and strive to increase extra income; (4) The retailer and remanufacturer should focus on increasing product sales and recycling quantity of waste products to promote the achievement of economic and environmental value.

Reversing equity transfer in sponsorship for competitive advantage of emerging local events: quantitative evidence from an experimental study

PurposeBuilt upon the balance theory and schema theory, this study examined the impact of sponsors' intangible attributes, including consumer-based brand equity (CBBE) and brand-event image fit (BEIF), on consumer responses to emerging local events (ELEs), as well as major boundary conditions of this mechanism.Design/methodology/approachTheoretical hypotheses were tested using multivariate analysis of covariance and structural equation modeling with the data from two experiments: the experiment in the pilot study was used to calibrate sponsor stimuli, and the experiment in the main study was designed to assess consumer responses to different sponsor-event combinations.FindingsResults of this experimental study illustrated the dominant role of CBBE in influencing individuals' perceived event value and intention to participate in the context of ELEs and revealed the noticeable but limited moderating effects of BEIF and sport identification.Originality/valueThis study highlighted the importance of sponsorship in the marketing communications of ELEs and suggested prioritizing the overall attributes of sponsors in the sponsor-selection. This study also called for more research attention directed toward the intangible benefits that sporting events could receive from sponsorship deals.

Changes in a Parent’s Ownership Interest and Recognition of Equity Transfer

Changes in a Parent’s Ownership Interest and Recognition of Equity Transfer

Role of announcement in the relationship between online search behavior and restructuring performance of hospitality firms: the case of date and restructuring type

ABSTRACT Whether or not management can moderate the relationship between online search and the restructuring performance of hospitality firms remains unknown. We conduct an early investigation by distinguishing the heterogeneous effects of different online platforms, human moods, and restructuring types of hospitality firm restructuring. The findings reveal the following: (1) Weekday announcements of hospitality firm restructurings bring greater performance increase for hospitality firms from computer searches, but second-half weekday announcements bring smaller performance increase from mobile searches. (2) Compared with equity transfer between hospitality firms, divestiture results in smaller performance increase for hospitality firms from mobile searches but greater and slower-to-act performance increase from computer searches. By contrast, hospitality firm acquisition brings smaller short-term performance increase from computer searches.