However, within the higher integration of global capital markets and more opened opportunities of across markets transaction, the stock price differential between domestic and foreign stock markets should also be considered as a factor which determines the level of capital flow.

Functions of Dissent Shareholders' Appraisal Rights in Sales of Substantial Assets: Centered on American Law

The law of corporation revised introduces the system about the repurchase rights for dissent shareholders, provided another system for minor shareholders interests.

The appraisal right of dissent shareholders is an exception to the capital maintenance principle;its function is to improve the shareholders retreat system and the minor shareholdersr protection system.

A Study of the Appraisal Right of Dissenters;

The Research on the Appraisal Rights Dissenters System;

The appraisal right of dissenters has a close relationship with the change of the company vote system.

The author points out that for the China s listed companies with heterogeneous equity, without consideration of the factors of connected transaction, the internal financing is inferior to the external financing and they will prefer cash dividend.