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The Rise and Fall of the Rishengchang bank model: Limiting Shareholder Influence to Attract Capital

In: Origins of Shareholder Advocacy

Author

Listed:
  • Randall Morck
  • Fan Yang

Abstract

In the early 1800s, an era of profound isolation, the remote northern inland province of Shanxi hosted China’s premier financial center. Shanxi banks offered empire-wide branch networks and a full array of services markedly resembling those of Western banks. While most accounts suggest a purely Chinese origin, and thus a remarkable case of parallel economic evolution, a strong case can be made that Western banking diffused into Shanxi via Russia.

Suggested Citation

  • Randall Morck & Fan Yang, 2011. "The Rise and Fall of the Rishengchang bank model: Limiting Shareholder Influence to Attract Capital," Palgrave Macmillan Books, in: Jonathan G S Koppell (ed.), Origins of Shareholder Advocacy, chapter 0, pages 187-212, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-11666-5_9
    DOI: 10.1057/9780230116665_9
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    Cited by:

    1. Randall Morck & Bernard Yeung, 2017. "East Asian Financial and Economic Development," Working Papers id:12112, eSocialSciences.

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