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The Two Models of Corporate Governance and the Institutional Reform of Chinese Enterprise

In: Changing Corporate Governance Practices in China and Japan

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  • Peng Fei Yang

Abstract

The enterprise reform in China since the 1980s has actually been an exploration of establishing a suitable corporate governance mechanism. The process can be divided into two periods. In the 1980s, it was adapting aspects of the German and Japanese model; and from the 1990s, from the Anglo-American model. However, the Chinese system has inherited some of the disadvantages of these two models, such as the dominance by one major shareholder, the absence of employees in corporate management, and the lack of protection of the interests of creditors and local communities. This has caused the misbehavior of corporations. This chapter concludes by summarizing the lessons learned in China’s corporate governance reform, and provides analysis of some of the new trends in the reform, such as the reforms in differentiated treatment of shares, and emphasis on the concept of harmonious society.

Suggested Citation

  • Peng Fei Yang, 2008. "The Two Models of Corporate Governance and the Institutional Reform of Chinese Enterprise," Palgrave Macmillan Books, in: Masao Nakamura (ed.), Changing Corporate Governance Practices in China and Japan, chapter 2, pages 15-28, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59515-6_2
    DOI: 10.1057/9780230595156_2
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