The Origin of Corporate Control Power
Jie He, Min Wang
TL;DR
This paper uncovers a Fibonacci-based pattern in shareholder control power evolution, revealing a harmonic oscillation that indicates efficient allocation of corporate control rights, supported by Chinese stock market data.
Contribution
It introduces a novel Fibonacci sequence pattern and harmonic oscillation model for understanding shareholder control power evolution, validated with empirical Chinese market data.
Findings
Control power probability follows Fibonacci sequence pattern.
Control power oscillates harmonically between 1/2 and 2/3.
Empirical data from Chinese stock market supports the model.
Abstract
We discover that the probability of a shareholder possessing optimal control power evolves in Fibonacci sequence pattern and emerges as the simple harmonic oscillation of 1/2 - 2/3- 1/2 in 12 operations. This novel feature suggests the efficiency of the allocation of corporate shareholders' right and power. Data on the Chinese stock market support this prediction.
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Taxonomy
TopicsComplex Systems and Time Series Analysis