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Corporatisation and Corporate Governance in China's Economic Transition

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  • Lin, Cyril
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    Abstract

    China has sought to improve enterprise performance not through privatisation as in other transition economies, but through corporatisation as means of improving corporate governance. Actual governance practices of corporatised Chinese firms are however seriously defective, characterized by excessive power of CEOs, insider control and collusion, lack of safeguards for minority shareholders and weak transparency. These shortcomings are attributable to factors such as cultural and political traditions, uncompetitiveness of markets, poor legal enforcement, weak debt and equity markets, but above all to continued state dominance in ownership and control of the corporate sector and listed companies. Corporatisation, nevertheless, has created a regime conducive to implementing measures for improving corporate governance. Copyright 2001 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Economics of Planning.

    Volume (Year): 34 (2001)
    Issue (Month): 1-2 ()
    Pages: 5-35

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    Handle: RePEc:kap:ecopln:v:34:y:2001:i:1-2:p:5-35

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    Web page: http://www.springerlink.com/link.asp?id=113294

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    Cited by:
    1. Lau, Chung-Ming & Fan, Dennis K.K. & Young, Michael N. & Wu, Shukun, 2007. "Corporate governance effectiveness during institutional transition," International Business Review, Elsevier, vol. 16(4), pages 425-448, August.
    2. Hovey, Martin & Naughton, Tony, 2007. "A survey of enterprise reforms in China: The way forward," Economic Systems, Elsevier, vol. 31(2), pages 138-156, June.
    3. Mishra, Anil V. & Ratti, Ronald A., 2011. "Governance, monitoring and foreign investment in Chinese companies," Emerging Markets Review, Elsevier, vol. 12(2), pages 171-188, June.
    4. Clarke, Donald C., 2003. "Corporate governance in China: An overview," China Economic Review, Elsevier, vol. 14(4), pages 494-507.
    5. Choon-Yin Sam, 2013. "Partial privatisation and the role of state owned holding companies in China," Journal of Management and Governance, Springer, vol. 17(3), pages 767-789, August.
    6. Langnan Chen & Steven Li & Yijia Chen, 2005. "Corporate Governance and Corporate Performance: Some Evidence from Newly Listed Firms on Chinese Stock Markets," School of Economics and Finance Discussion Papers and Working Papers Series 204, School of Economics and Finance, Queensland University of Technology.

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