The Political Determinants Of Corporate Governance In China

Author : Chenxia Shi
Publisher : Routledge
Page : 287 pages
File Size : 40,7 Mb
Release : 2012-03-15
Category : Law
ISBN : 9781136338366

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The Political Determinants of Corporate Governance in China by Chenxia Shi Pdf

This book investigates the key factors shaping corporate governance in China and presents a sophisticated study of corporate governance in China from a comparative and historical perspective. Drawing on extensive corporate governance literature, this book articulates why path dependence theory is the most effective framework for interpreting the development path of Chinese corporate governance. Chenxia Shi reviews the historical role of government in commercial development and regulation in dynastic China and in early corporate law-making, followed by an account of China’s legal and economic development over the last three decades. This historical inquiry identifies government control as the key feature of economic and market regulation in China. In particular, this book canvasses the evolution of governance of State-Owned Enterprises and listed companies, major corporate governance problems, regulatory challenges posed by China’s increasing participation in economic globalization, and enforcement difficulties particularly in relation to investor protection, directors’ duties and accountability. Ultimately, Political Determinants of Corporate Governance in China demonstrates that corporate governance in China is largely determined by political imperatives and those political imperatives have been shaped and re-shaped in a historical process.

Author : Peter Alexis Gourevitch,James Shinn
Publisher : Princeton University Press
Page : 372 pages
File Size : 49,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 0691122911

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Political Power and Corporate Control by Peter Alexis Gourevitch,James Shinn Pdf

Why does corporate governance--front page news with the collapse of Enron, WorldCom, and Parmalat--vary so dramatically around the world? This book explains how politics shapes corporate governance--how managers, shareholders, and workers jockey for advantage in setting the rules by which companies are run, and for whom they are run. It combines a clear theoretical model on this political interaction, with statistical evidence from thirty-nine countries of Europe, Asia, Africa, and North and South America and detailed narratives of country cases. This book differs sharply from most treatments by explaining differences in minority shareholder protections and ownership concentration among countries in terms of the interaction of economic preferences and political institutions. It explores in particular the crucial role of pension plans and financial intermediaries in shaping political preferences for different rules of corporate governance. The countries examined sort into two distinct groups: diffuse shareholding by external investors who pick a board that monitors the managers, and concentrated blockholding by insiders who monitor managers directly. Examining the political coalitions that form among or across management, owners, and workers, the authors find that certain coalitions encourage policies that promote diffuse shareholding, while other coalitions yield blockholding-oriented policies. Political institutions influence the probability of one coalition defeating another.

Author : Zhang Cheng,Rajah Rasiah,Kee Cheok Cheong
Publisher : Springer Nature
Page : 175 pages
File Size : 43,7 Mb
Release : 2021-06-24
Category : Social Science
ISBN : 9789811631160

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Governing Enterprises in China by Zhang Cheng,Rajah Rasiah,Kee Cheok Cheong Pdf

This book examines the nature of the marketization of corporate boards following the introduction of the split share reform, corporate board and shareholder relations, corporate performance, and risk-taking conduct in China. The chapters cover topics such as determinants of corporate board size and independence, corporate risk-taking conduct under different controlling shareholder types. The book deepens our understanding of corporate governance mechanisms as most previous studies have limited their findings using mainstream perspectives grounded on neoclassical theory. It outlines that China’s corporate board composition is determined by the board’s scope of operation, monitoring, bargaining power, and other governance mechanisms and regulations. It also offers a comparison between China’s experience with other economies in general and other transition economies in particular. As such, the book represents an essential overview of the current concerns regarding corporate governance in China. It is of great interest to legal researchers, policymakers, and legal practitioners working with business investments in China.

Author : Mark J. Roe
Publisher : Oxford University Press, USA
Page : 260 pages
File Size : 47,9 Mb
Release : 2003
Category : Business & Economics
ISBN : 0199205302

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Political Determinants of Corporate Governance by Mark J. Roe Pdf

In a painstaking analysis, Roe (law, Harvard Law School) examines the impact of a nation's strong social policies on the corporate governance, suggesting that stronger social policies can cause an American style of diffuse ownership among shareholders to fail. The link between social policies and corporate governance is examined statistically for a large number of countries, and in case studies for seven: Italy, Germany, Sweden, the UK, France, Japan, and the US. Product markets, securities markets, and the ability of corporate and economic structures to induce a political backlash are discussed. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).

Author : Wei'an Li
Publisher : John Wiley & Sons
Page : 276 pages
File Size : 50,9 Mb
Release : 2008
Category : Business & Economics
ISBN : STANFORD:36105131658770

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Corporate Governance in China by Wei'an Li Pdf

Great progress has been achieved for the structural reform in China enterprises for the past one and a half decades. Along with the reform, the corporate governance structure has been established accordingly. The Chinese Corporate Governance Index (CCGINK) is a useful tool to objectively observe and analyze shareholder behavior, board execution, management incentive and restriction, supervisory committee operation, information disclosure and stakeholders’ interest protection, and is helpful in diagnosing issues that may arise during corporate operations. The CCGINK provides guidance for improvement of corporate governance, and can be used to enhance the sustainable development of corporations.—Chen Qing-Tai, Vice Director, Economic Committee, National Committee of Chinese People’s Political Consultative Conference (CPPCC), Former Vice Director of Development and Research Center of the State Council Dean, Public Administration School of Tsinghua University The phenomenal growth of China's capital markets during the past decade belies the fact that Chinese companies have only gradually adopted modern corporate governance structures. Professor Li’s book offers a candid and timely assessment of the quality of the governance mechanisms they employ including the factors that influence their quality and how they relate to subsequent corporate performance. A proper understanding is critical for global investors with an interest in China's markets and for scholars who seek to disentangle corporate governance theory and practice in a fascinating market place. —G. Andrew Karolyi, Charles R. Webb Professor of Finance The Ohio State University Corporate governance is a vital issue that China listing companies and enterprises has to deal with. This book reports an important investigation on the subject of corporate governance. As a major result of the study, a series of governance indices conforming to China’s situation were proposed in the book. The author of the book hence received the Award of Outstanding Contribution in Chinese Enterprise Management, and I was very pleased to preside the ceremony to present him with this prestigious award. —Cheng Si-Wei, Vice Chairman of the Standing Committee of National People’s Congress, Vice President of Fudan Management Award Foundation Corporate governance issues are important around the world. The ability of a firm to raise capital, to align with partners, and ultimately, to sell products and services to customers, all depend, to some extent, on the quality of corporate governance. This is why the research reported here is so important. That it focuses on corporate governance among Chinese corporations makes it all the more important. With only a limited history of publicly-traded firms, Chinese firms are inventing—right now—the kinds of corporate governance they will need to compete in global markets. It is hard to imagine a more timely research endeavor. —Jay B. Barney, Professor and Chase Chair for Excellence in Corporate Strategy, The Ohio Stae University

Author : Jian Chen
Publisher : Psychology Press
Page : 192 pages
File Size : 41,6 Mb
Release : 2005
Category : Corporate governance
ISBN : 9780415345132

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Corporate Governance in China by Jian Chen Pdf

The nature of corporate governance is a key determinant of corporate performance and, therefore, of a country's overall economic power. This title examines key questions relating to corporate governance in China, exploring differences between private and state-owned companies.

Author : OECD
Publisher : OECD Publishing
Page : 108 pages
File Size : 53,9 Mb
Release : 2011-09-22
Category : Electronic
ISBN : 9789264119208

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Corporate Governance of Listed Companies in China Self-Assessment by the China Securities Regulatory Commission by OECD Pdf

By assessing a broad range of laws, regulations and codes, this book provides a valuable reference for understanding how much has been achieved in Chinese corporate governance and the main ambitions of future reform efforts.

Author : Jeffrey Neil Gordon,Wolf-Georg Ringe
Publisher : Oxford University Press
Page : 1217 pages
File Size : 50,8 Mb
Release : 2018
Category : Business & Economics
ISBN : 9780198743682

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The Oxford Handbook of Corporate Law and Governance by Jeffrey Neil Gordon,Wolf-Georg Ringe Pdf

Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.

Author : Anna Lanoszka
Publisher : Taylor & Francis
Page : 189 pages
File Size : 49,8 Mb
Release : 2022-07-14
Category : Business & Economics
ISBN : 9780429812125

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Corporate Governance and Economic Development by Anna Lanoszka Pdf

This book explores the links between different corporate governance systems and their impact on economic development. It focuses on how institutional reforms, legislative changes and codified measures have influenced performance at the firm and country level. Drawing on detailed cases from the UK, USA, China, India, Poland, Brazil, Russia and South Africa, this book takes a truly international and comparative approach to understanding the relationship between regulatory frameworks and economic development. This will be a valuable text for students and researchers of economic development, corporate governance, international political economy, and economic and business history.

Author : Jingchen Zhao
Publisher : Edward Elgar Publishing
Page : 293 pages
File Size : 49,5 Mb
Release : 2022-12-06
Category : Law
ISBN : 9781784719111

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Derivative Actions and Corporate Governance in China by Jingchen Zhao Pdf

This book examines corporate governance rules in China, and highlights the deficiencies in current company law, with the purpose of arguing for a more effective derivative action mechanism, for the benefit of shareholders and their companies.

Author : Hui Jing
Publisher : Cambridge University Press
Page : 233 pages
File Size : 55,6 Mb
Release : 2023-08-31
Category : Law
ISBN : 9781009327916

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The Governance of Chinese Charitable Trusts by Hui Jing Pdf

Author : Jingchen Zhao
Publisher : Edward Elgar Publishing
Page : 323 pages
File Size : 47,8 Mb
Release : 2014-01-01
Category : Business & Economics
ISBN : 9781781005583

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Corporate Social Responsibility in Contemporary China by Jingchen Zhao Pdf

China's recent economic transformation and integration into the world economy has coincided with increasing pressure for corporate law reform to make corporate social responsibility (CSR) integral to business and management strategy in China. This timely book critically analyses contemporary notions of CSR in China, discussing theory and practice alongside legal responses in this emerging field. Jingchen Zhao uniquely combines the history, traditions and social policies of China with Chinese law, explaining the significance of path dependence in China. He presents an in-depth debate on the difficulties involved in transplanting developed legal principles directly into Chinese society, and takes a detailed look at the CSR provisions in Chinese company law which aimed to put social and environmental concerns onto the corporate agenda. He suggests how these laws could be more effectively and efficiently enforced with reference to UK law, and explores specific issues including: * Chinese Company Law 2006 * the 'Harmonious Society' in China * the 2008 Financial Crisis and its impact on the Chinese economy * recent corporate scandals including the Sanlu Baby Milk scandal, the Wenchuan earthquake and CSR donations, the Beijing Olympic Games and CSR, and the Fujia chemical plant. This book will prove an enlightening read for academics and practitioners in the fields of law, business and management interested in CSR and the law in contemporary China.

Author : Randall K. Morck
Publisher : University of Chicago Press
Page : 700 pages
File Size : 46,5 Mb
Release : 2007-11-01
Category : Business & Economics
ISBN : 9780226536835

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A History of Corporate Governance around the World by Randall K. Morck Pdf

For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Author : Lin Zhang
Publisher : Springer Science & Business Media
Page : 126 pages
File Size : 45,9 Mb
Release : 2011-10-20
Category : Business & Economics
ISBN : 9781461412816

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Venture Capital and the Corporate Governance of Chinese Listed Companies by Lin Zhang Pdf

State-controlled listed companies have always dominated Chinese stock markets. As a result of the rampant scandals related to them, there have been voluminous academic efforts to explore their corporate governance, underpinned by agency costs. However, these studies have yet to examine the phenomenon from the perspective of venture capital and adaptive efficiency. During the last ten years, despite China’s remarkable progress in the development of its venture capital market, its domestic venture capital has been marginalized by American competitors. Given the different performance between them, the author contends that the corporate governance system of Chinese state-controlled listed companies has hampered the performance of the institutional factors which are responsible for the prosperity of American venture capital in Chinese venture capital markets. With the practice of American venture capital as the mirror, he empirically demonstrates that Chinese domestic venture capital lacks the four factors related to the success of their American counterparts: large and independent funding, application of incentive mechanisms, efficient exit channels, and a high risk tolerance level. More importantly, these defects as a whole are closely linked to the corporate governance of state-controlled listed companies. Considering the potential negative consequences on economic and social development, the author identifies policy reforms underway to harmonize agency costs and adaptive efficiency.

Author : Andreas M. Fleckner,Klaus J. Hopt
Publisher : Cambridge University Press
Page : 128 pages
File Size : 41,8 Mb
Release : 2013-07-11
Category : Law
ISBN : 9781107355118

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Comparative Corporate Governance by Andreas M. Fleckner,Klaus J. Hopt Pdf

The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges, and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of corporate and capital market law reforms unseen before. Corporate governance, the system by which companies are directed and controlled, is today a key topic for legislation, practice, and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political, and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.