ECONOMIC AND LEGAL ANALYSIS ON THE MARKET FOR CORPORATE CONTROL

The market for corporate control means such mechanisms as transforming the corporate control from the management to the guarantee of the interests of stockholders.In Western countries where the market for corporate control plays an important role,either the prevailing theory or the implementation of this market enjoys the same position as realizing the interests just owned by the stockholders.However,the prevailing theory and law systems should be revised since this basic position has been challenged by some entirely different observations and legislations.