Sep 25, Chinese stock advanced for a second day rising with the share buying of China Unicom and the government eased restrictions on shares buying by controlling shareholders.

今天是“十一”长假前最后一个交易日，昨日两市在中国联通增持和沪深交易所为大股东增持开“绿灯”的利好刺激下，维持了上涨势头。

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Incentive compatibility can be achieved mainly not by stock options but by outright grants of equity to managers as part of their compensation, with the restriction that such positions be held for periods that at least exceed the existing holding horizons of controlling shareholders.

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Motivated by the growing literature studying the effects of stock market mispricing on firm behaviour (see for example Stein 1996, Shleifer and Vishny 2003, and Baker 2009), we develop a simple framework for thinking about how stock market mispricing can offset agency costs and induce controlling shareholders to raise outside equity.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?

These controlling families ought to be compensated for the additional costs they incur from being less diversified than other shareholders and because they invest more time in overseeing management, he contends.

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