Controlling shareholder''s double-temporal private benefits under intertemporal investment
基于跨期投资视角的控股股东两期控制权私利行为

Based on the theory of private benefits of control,this paper builds double-temporal expropriation models under intertemporal investments to analyze how cash-flow rights,future rate of return and legal protection affect private benefits of controlling shareholder.The conclusions show that:cash-flow rights and legal protection of shareholders are negative with the current and future first-best expropriation; the future rate of return is negative with the current first-best expropriation,but irrelative with t...