Corporate China 2.0: The Great Shakeup

Front Cover
Springer, Dec 23, 2016 - Business & Economics - 243 pages
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.

 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

The Improbable Surge of Corporate China
1
Whats In A Great Company?
25
Does ROIC Apply to Corporate China?
55
The Great Hope Struggles
79
It Is Also About Corporate Governance
103
The Perils of Diversification
131
Shake Up the Foundations
155
The Beginning of a Breakthrough
185
Conclusion How Can Chinese Companies Be Truly Great?
211
Appendix
223
Bibliography
227
Index
233
Copyright

Other editions - View all

Common terms and phrases

About the author (2016)

Qiao Liu is Professor of Finance and Associate Dean for the EMBA program in the Guanghua School of Management, Peking University, China. Formerly, he was a corporate finance expert at McKinsey. He has published numerous articles at leading academic journals including Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Management Science, Journal of Accounting Research, and Economic Journal. He is co-author of the book Finance in Asia: Institutions, Regulation and Policy.

Bibliographic information