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China's Corporate Governance

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  • Zhaoxia Li

Abstract

This paper studies a case of corporate governance in the Mingxing Electric Power Company (MXEP). The corporate governance failure was not caused by lack of autonomy inside the company, but lack of sufficient checks and balances at the top management level. The internal disciplinary mechanism of the two-board system proved not to be effective. The constraining mechanism on the manager's discretionary power had been relatively neglected during the course of reform. Decreasing government intervention has made managerial discretion the major agency problem of corporate governance in China.

Suggested Citation

  • Zhaoxia Li, 2010. "China's Corporate Governance," Chinese Economy, Taylor & Francis Journals, vol. 43(3), pages 77-102, May.
    • Handle: RePEc:mes:chinec:v:43:y:2010:i:3:p:77-102
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    Cited by:

    1. Ermanno Tortia & Martha Knox Haly & Anthony Jensen, 2014. "Workers' propensity to cooperate with colleagues and the general population: a comparison based on a field experiment," Econometica Working Papers wp52, Econometica.
    2. Adegbite, Emmanuel & Amaeshi, Kenneth & Nakajima, Chizu, 2013. "Multiple influences on corporate governance practice in Nigeria: Agents, strategies and implications," International Business Review, Elsevier, vol. 22(3), pages 524-538.
    3. Adam Samborski, 2011. "Financial crisis and corporate governance (Kryzys finansowy a nadzor korporacyjny)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 9(31), pages 233-256.
    4. De Regge, Melissa & Eeckloo, Kristof, 2020. "Balancing hospital governance: A systematic review of 15 years of empirical research," Social Science & Medicine, Elsevier, vol. 262(C).
    5. Mallin, Chris & Melis, Andrea & Gaia, Silvia, 2015. "The remuneration of independent directors in the UK and Italy: An empirical analysis based on agency theory," International Business Review, Elsevier, vol. 24(2), pages 175-186.
    6. Tortia, Ermanno & Knox Haly, Martha & Jensen, Anthony, 2013. "From the Neoliberal to the Participatory Firm," AICCON Working Papers 130-2013, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
    7. Gulamhussen, Mohamed Azzim & Santa, Sílvia Fonte, 2015. "Female directors in bank boardrooms and their influence on performance and risk-taking," Global Finance Journal, Elsevier, vol. 28(C), pages 10-23.
    8. Marco Zanobio, 2012. "Aspetti teorici della Corporate Governance," DISEIS - Quaderni del Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo dis1202, Università Cattolica del Sacro Cuore, Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo (DISEIS).
    9. Nicole Mueni Muia & Julius Kahuthia Mwangi & John Muhoho, 2020. "Board Behavior and Corporate Performance: A Case of African Guarantee Fund for Small and Medium-Sized Enterprises," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 4(7), pages 232-239, July.
    10. Anne Marie Ward & John Forker, 2017. "Financial Management Effectiveness and Board Gender Diversity in Member-Governed, Community Financial Institutions," Journal of Business Ethics, Springer, vol. 141(2), pages 351-366, March.
    11. Melis, Andrea & Gaia, Silvia & Carta, Silvia, 2015. "Directors' remuneration: A comparison of Italian and UK non-financial listed firms' disclosure," The British Accounting Review, Elsevier, vol. 47(1), pages 66-84.

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