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《Securities Market Herald》 2013-01
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China Concept Stocks Crisis: Background, Course and the Affect

Yu Bo  
This paper reviews the background of the overall declining of China concept stocks value.We analyzed the reasons of China companies’ credibility crisis from the perspective of macro-economic and micro-economic respectively.The reasons of macro-economic included that the low-quality enterprises,the accounting fraud,the business model being questioned,and the risk of Variable Interest Entity(VIE) structure.The reasons of micro-economic included that the concerns about China's economic slowdown,the effects of the interest chain and Sino-US cross-border regulatory loopholes.The crisis will lead to a "domino effect" of China companies’ privatization of delisting,and change the direction of Chinese companies listed overseas.It will change the competition pattern of major international capital markets.
【Fund】: 国家社会科学基金重大项目“中国会计通史系列问题研究”(11&ZD145);国家社会科学基金项目“金融危机后全球会计治理及其国际协调机制与我国对策研究”(10BJY020)
【CateGory Index】: F831.51
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