Phased results of fund project: "Study on the Ultimate Shareholder's Control and Deprivation in Listed Companies from the Perspective of Social Capital," sponsored by National Natural Science Foundation of China (Grant No. 71072072); "Study on Ultimate Control Rights of China's Listed Companies from the Perspective of Social Capital," sponsored by Graduate Innovation Fund of Capital University of Economics and Business (Grant No.CUEB2010507).
Based on the epistemology and methodology of organizational routine evolution, this paper presents a systematic analysis on how ultimate shareholders control listed companies by means of equity control chain in a pyra...