Professor Kang Invited Presentation in Seoul
Sang Yop Kang, Professor of Law at STL, was invited to present on his work at an international conference, “Pioneering a Trans-Pacific Vision in Corporate Law and Capital Market Law,” held at Seoul National University School of Law.
Professor Kang’s presentation was titled “Hostile Takeovers in China.” It was based on his draft on the Vanke case and the Chinese takeover mechanisms. In his presentation, Professor Kang discussed the episode of Baoneng Group’s hostile takeover attempt of Vanke and delved into several corporate governance issues in relation to the Vanke-Baoneng case. First, Professor Kang analyzed the relationship between ownership structures and hostile takeover attempts. He also considered, in the Chinese context, the (in)efficiency of the market for corporate control as well as the role of a white-knight. In addition, he examined the significance of the insurance industry and companies in the Chinese M&A market and the suspension of stock trading as a defensive tactic. Furthermore, Professor Kang elaborated on the comparative analysis of the issuance of new shares and a poison pill strategy. Also, he evaluated the financial regulatory system in China and explored a variety of political implications that the Vanke case and Chinese takeovers may bring.
Professor Kang teaches and researches in the areas of corporate governance, corporate law, law and economics, capital markets and financial market regulations.