Corporate Governance And Financial Reform In China S Transition Economy
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Corporate Governance And Financial Reform In China S Transition Economy
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Author : Jing Leng
language : en
Publisher:
Release Date : 2011
Corporate Governance And Financial Reform In China S Transition Economy written by Jing Leng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The world economy is facing unprecedented challenges brought by the still unfolding global financial crisis. At this critical juncture in history, China's economic performance and financial stability are closely watched across the world. The current global economic downturn and the rigidities it poses on the growth prospects of any individual economy are a testing ground for the effects of China's corporate governance reform and financial reform that have been taking place in recent years. It is now a proper time to assess whether these reforms have yielded meaningful results which can help China withstand and navigate through the most severe economic difficulties of our times. This book provides a comprehensive and up to date review and critique of corporate governance reforms and related financial reforms in China during the country's transition to a market economy, involving its enterprise, banking and capital markets sectors. China's participation in economic globalization, symbolized by its accession to the World Trade Organization, is taken as a broad background to the country's domestic reform agenda. By exploring the dynamics of China's evolving corporate governance regime, this book presents an important country study of corporate governance reforms in developing and post-communist transition economies to show the possibility of alternative paths to the market.
Financial Reform And Economic Development In China
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Author : James Laurenceson
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003-01-01
Financial Reform And Economic Development In China written by James Laurenceson and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
China's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact of financial reform on economic development in China during the reform period. This volume will facilitate a more accurate assessment of the Chinese approach to financial reform, and will therefore allow more informed future policy choices for both China and other developing and transitional countries.
Reforming China S State Owned Enterprises And Banks
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Author : Becky Chiu
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
Reforming China S State Owned Enterprises And Banks written by Becky Chiu and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Business & Economics categories.
This book is informative and readable. It will be of interest to anyone wanting to learn about the development of the Chinese economy in general and the reforms of state-owned enterprises in particular. The data and in-depth discussion presented in the book will appeal to academics as well as policymakers. Yin-Fang Zhang, Journal of the Asia Pacific Economy China watchers will welcome a book which provides a detailed insight into the two pillars of that economy: the state-owned enterprises (SOEs) and the state-owned banks (SOBs). This is a scholarly work, rich in detail. Shelagh Heffernan, The Financial Regulator For China to sustain her transformation requires that she tackle reform of her state-owned enterprises (SOEs) and banks. This book comprehensively assesses the scale of the problem, reviews previous reforms and suggested solutions. Finally the authors propose their own reform agenda, sensitive to Chinese realities. Michael Artis, European University Institute, Italy This is an excellent study of the nexus between the effects of party control, the soft budget of state-owned enterprise (SOEs) and the financial fragility of the state-owned banking system (SOBs) in China. It is both sympathetic and knowledgeable about the problems of achieving reform and progress. Beautifully written, it should become the most influential work in this field in the English-speaking world. Charles A.E. Goodhart, London School of Economics, UK This book s starting point is that after two decades of experiments, during which other transition economies have effectively privatised all of their former state enterprises, China is still endeavouring to find a way to reinvent and re-engineer its own state-owned economic establishments. The authors explore these reforms along with the problems of China s state-owned banks, which have long been troubled by the adverse loans of Chinese enterprises and face foreign competition in 2007 under China s WTO commitments. Drawing on wide-ranging case studies of enterprise reform, Becky Chiu and Mervyn Lewis combine their extensive experience to give an authoritative account of China s enterprise and bank reform agenda, involving property rights, improved corporate governance and stimulating enterprise. This book will be of great interest to business economists, academic economists and those following the development of the Chinese economy.
Corporate Governance In China
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Author : Jing Leng
language : en
Publisher: Library and Archives Canada = Bibliothèque et Archives Canada
Release Date : 2006
Corporate Governance In China written by Jing Leng and has been published by Library and Archives Canada = Bibliothèque et Archives Canada this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Corporate governance categories.
This study examines corporate governance reforms in China as an economy in transition from central planning to the market in the context of globalization and the country's accession to the World Trade Organization (WTO), which serves as an example to illustrate the benefits of a gradualist transition strategy emphasizing proper sequencing and pacing of reforms at different stages of development. According to the dynamic theory of corporate governance, the central argument of this study is that for transition economies, there is no universal path to a market economy and the radical approach of mass and rapid privatization that had been endorsed by neoclassical economists but regrettably failed in Russia compares unfavorably with the gradualist strategy adopted by China. Given the existing constraints on reforms imposed by China's limited political resources, underdeveloped legal environment and inadequate institutional, regulatory and human capital, it makes great sense for the country to adopt a gradualist strategy for corporate governance reforms. China's experience has demonstrated that an "institutional vacuum" should be avoided in the process of a country's transition from a command economy to a market economy. Meanwhile, mutually supporting and complementary structural reforms of China's enterprises, banks, and stock market should proceed hand in hand in order to achieve synergies and effective and sustained results during the transition. In terms of the analytical framework, this study proposes a dynamic theory of corporate governance to interpret China's experience of corporate governance reforms and related financial reforms during its transition. This theory crystallizes the merits of staged corporate governance reforms that emphasize the proper sequencing and pacing at different stages of development, as opposed to the radical privatization approach adopted by Russia, known as "shock therapy." At the centre of this dynamic theory of corporate governance is the claim that supporting or complementary legal and institutional reforms aimed at providing investors with effective protection and ensuring the proper functioning of basic market mechanisms, such as banking and stock market reforms, should proceed prior to, or alongside, privatization in an economy in transition.
China In The Global Economy Reforming China S Enterprises
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2000-09-05
China In The Global Economy Reforming China S Enterprises written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-09-05 with categories.
This volume describes the main reforms that are being undertaken in China's enterprises, the progress that is being made, the problems that are being encountered, and the challenges that remain to be overcome.
The Development Of Corporate Governance In China
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Author : On Kit Tam
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999
The Development Of Corporate Governance In China written by On Kit Tam and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
rExamines how corporate governance has and should be developed in China to meet the challenges of enterprise and financial reform. It highlights economic, social and political issues that China needs to confront to transform state-owned industrial enterprises into a competitive corporate sector.
Reforming China S Enterprises
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Author :
language : en
Publisher: OECD
Release Date : 2000
Reforming China S Enterprises written by and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
This volume describes the main reforms that are being undertaken in China's enterprises, the progress that is being made, the problems that are being encountered, and the challenges that remain to be overcome.
Corporate Governance And Banking In China
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Author : Michael Tan
language : en
Publisher: Routledge
Release Date : 2013-09-02
Corporate Governance And Banking In China written by Michael Tan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-02 with Business & Economics categories.
As China began its economic reforms in the late 1970s and made a transition from planned to a market economy, corporate governance of the banking sector became an increasingly pressing issue. Further, in the aftermath of the Asian Financial Crises in the late 1990s, Chinese authorities became acutely aware of the importance of corporate governance to ensure that their banking system would not suffer similar fates to those of other Asian countries. This book examines corporate governance in city commercial banks, which are the main source of loans to the dynamic small and medium enterprises that are crucial to the development of China’s economy. By the end of 2008, there were 136 city commercial banks in China, 13 of which had foreign partners, and this book clearly demonstrates the positive effect of these foreign partnerships on corporate governance practices, in addition to financial performance. With evidence from extensive interviews with 10 city commercial banks in China, Michael Tan explores the different models of corporate governance, and in turn, asks which model is most suitable to China, how are Chinese authorities overcoming problems with corporate governance, and how do these problems compare with those in other transition economies? Whilst the primary focus of this study is on China's city commercial banks, there are lessons that apply much more broadly to the industry and it therefore will be invaluable to foreign banking institutions wishing to invest in China. This book will also be of great appeal to students and scholars of Chinese business and economics, corporate governance and banking.
How Reform Worked In China
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Author : Yingyi Qian
language : en
Publisher: MIT Press
Release Date : 2017-11-24
How Reform Worked In China written by Yingyi Qian and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-24 with Business & Economics categories.
A noted Chinese economist examines the mechanisms behind China's economic reforms, arguing that universal principles and specific implementations are equally important. As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China's successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China's reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China's regional-based central planning.
Corporate China 2 0
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Author : Qiao Liu
language : en
Publisher: Springer
Release Date : 2016-12-23
Corporate China 2 0 written by Qiao Liu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-23 with Business & Economics categories.
This book argues that that the rise of great firms - those with sustainable high return on invested capital (ROIC) - will lay the foundation for China’s successful economic transformation. Drawn from the author’s research on corporate finance and the Chinese economy, the author maintains that being big could be easy but means little for corporate China, especially in the context of China’s transition from an investment-led economy to an efficiency-driven one. The work discusses both internal and external impediments that lead to lack of great companies in China and suggests institutional conditions which foster the rise of great companies in China, including, reversing the government’s obsession with GDP, reforming the financial system, and promoting entrepreneurship. Policy makers, investors, corporate executives, and MBA students and scholars will appreciate case studies of Huawei, Alibaba, Xiaomi, and Lenovo, among others, that illustrate the endeavors made by Chinese entrepreneurs at the grassroots level and highlight what makes successful companies in China.