fbpx China and the Rise of Law-Proof Insiders - Jesse Fried | Harvard Kennedy School

Additional Authors:

  • Jesse Fried

Excerpt

November 30, 2020, Paper: "Alibaba, the e-commerce giant that completed a record-breaking IPO in the United States in 2014 and in mid-2020 was valued at over $500 billion, is one of hundreds of China-based U.S.-listed firms whose controlling insiders are largely “law-proof”: the corporate and securities laws governing these firms are effectively unenforceable because the firms’ insiders, records, and assets are in China. Legal remedies thus cannot reliably prevent diversion of most of these firms’ value."

Non-HKS Author Website - Jesse Fried