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Big Business with Chinese Characteristics: Two Paths to Growth of the Firm in China under Reform

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  • Nolan, Peter
  • Yeung, Godfrey

Abstract

This paper presents a case study of two large firms which emerged from among the ranks of traditional state-owned enterprises and new entrants: Shougang (steel) and Sanjiu (pharmaceuticals). Rather than being irreconcilable with the market economy, the experience of these two firms suggests that the Chinese Communist Party and the People's Liberation Army possessed a rich legacy of organisational and motivational skills. Moreover, Shougang and Sanjiu both grew rapidly through mergers and acquisitions in the absence of privatisation and a developed stock market. Furthermore, the main reason for Shougang and Sanjiu's success is not special help from the government or the army, but rather the fact that its leadership used their autonomy to construct a highly effective business organisation. Copyright 2001 by Oxford University Press.

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  • Nolan, Peter & Yeung, Godfrey, 2001. "Big Business with Chinese Characteristics: Two Paths to Growth of the Firm in China under Reform," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(4), pages 443-465, July.
    • Handle: RePEc:oup:cambje:v:25:y:2001:i:4:p:443-65
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    Cited by:

    1. Jayan Jose Thomas, 2008. "Innovation In India And China: Challenges And Prospects In Pharmaceuticals And Biotechnology," Working Papers 2008-035, Madras School of Economics,Chennai,India.
    2. Kshetri, Nir & Ajami, Riad, 2008. "Institutional reforms in the Gulf Cooperation Council economies: A conceptual framework," Journal of International Management, Elsevier, vol. 14(3), pages 300-318, September.
    3. P.L. Beena, 2019. "Outward FDI and Crossborder M&As by Indian Firms: A Host Country-Level Analysis," Working Papers id:12993, eSocialSciences.

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