Corporate groups outside the US are often controlled by a complex of ownership links, which typically form a pyramidal structure: a private holding company sits at the top of a control pyramid of several tiers of companies; firms in the lowest tier are the group's publicly listed companies. the usual practice of expropriation in such groups is to pass bad assets to companies down the pyramid and to pass the proceeds up the pyramid via internal transactions.... identify the real costs of connected transactions and the related expenditures, we collected comparable cases in Hong Kong ... including a shopping cart, membership, product comparison, news provision and a credit card payment gateway.
|Title||:||Governance and Expropriation|
|Author||:||Larry H. P. Lang|
|Publisher||:||Edward Elgar Pub - 2005-01-01|