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Korean J Financ Stud > Volume 46(1); 2017 > Article
Korean Journal of Financial Studies 2017;46(1):1-33.
DOI: https://doi.org/10.26845/KJFS.2017.02.46.1.1    Published online February 28, 2017.
Policy Measures for M&A Laws and Regulations in Korea: Focused on Reinforcement of Minority Shareholder Rights
Kyung Suh Park, Chansik Jung, Sun Min Kim
국내 M&A 제도현황과 개선방안
박경서, 정찬식, 김선민
Abstract
The paper overviews the market for control in Korea and related rules and laws, comparing them with foreign institutions, and provides policy measures for their improvement. In Korea, we rarely observe disciplinary takeovers, where failing or immoral managers are entrenched, and enjoy huge private benefit of control at the expense of minority shareholders. The paper suggests introduction of mandatory tender offer, diversity in takeover valuation methods, restriction on resale of treasury stocks, and reinforcement of the fiduciary duty of directors among others.
Key Words: 공개매수제도,소수주주권,자사주매각,지배주주,Controlling Shareholder,M&, A,Minority Shareholder Rights,Sales of Treasury Stocks,Tender Offer
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