Corporate Governance and Financial Reform in China's Transition Economy
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.
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2 Basic Concepts of Corporate Governance and Global Movements in Corporate Governance Reforms
3 The History of Chinas Enterprise Reformand Emerging Corporate Governance Issues
4 Corporate Governance Practices of Major Types of Chinese Enterprises and Institutional Constraints on Corporate Governance Improvements durin...
5 The Interaction between Capital Marketsand Corporate Governance of Chinese Listed Companies
6 Corporate Governance Reform of Chinas Banking System
7 The Chinese Experience in International Corporate Governance Debates
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A-share Andrei Shleifer asset stripping banking sector Bernard Black big four billion Caijing central government central SOEs China’s banking reform China’s economic China’s enterprise China’s SOE China’s stockmarket China’s transition Chinese Chinese companies Chinese government competition constraints convergence corporate governance failures corporate governance reform corporate governance structures corporatization countries country’s CSRC debate domestic economists effective efficiency example foreign funds global government’s gradualist growth Hong Kong Ibid ICBC incentives independent directors industry institutional environments institutional investors investment issue legal and institutional loans market economy MBOs overseas listings ownership reform ownership structure percent political private entrepreneurs private sector privatized firms problem rapid privatization recent reform in China regulators regulatory Review role Russia Russian privatization SASAC securities markets sequencing and pacing social SOE reform SOEs stage of China’s state-owned Stock Exchange supra note transactions transition economies TVEs Wenzhou