Managing the Wealth of Nations: What China and America May Have to Teach Each Other About Corporate Governance
15 Pages Posted: 21 May 2016
Date Written: 2015
This compares the corporate governance structures of China and the United States paying particular attention to the role of directors. It situates the Chinese experience in the country’s move to “free market socialism” under Deng Chou Ping. The article finds similarities in the reform movements in both countries during recent years to strengthen the independence and competency of directors — with China following America’s lead there. It also urges that the momentum for increased corporate social responsibility in both countries should continue.
Keywords: free market socialism, fiduciary duties of directors, corporate social responsibility
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