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The History of Corporate Ownership in China: State Patronage, Company Legislation, and the Issue of Control

  • William Goetzmann
  • Elisabeth Köll

This paper examines the emergence of corporate ownership in China from the final decades of the Qing empire in the late 19th century to the early Republican period in the 1910s and 1920s. By analyzing the actual process of incorporation, the development of the legal and financial environment, in particular the role of the state, we ask whether the top-down approach, in which the central government established a legal framework for corporate enterprise based on Western models and the assumption that it would work as it did for Western firms and markets, was a viable approach to the modernization of a

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File URL: http://icfpub.som.yale.edu/publications/2422
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Paper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm450.

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Date of creation: 01 Aug 2004
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Handle: RePEc:ysm:somwrk:ysm450
Contact details of provider: Web page: http://icf.som.yale.edu/

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  1. William N. Goetzmann & Andrey Ukhov & Ning Zhu, 2004. "China and the World Financial Markets 1870-1930:," Yale School of Management Working Papers ysm9, Yale School of Management.
  2. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
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