Corporate Governance with Chinese Characteristics: The Case of State Owned Enterprises
Frontiers of Law in China, Vol. 12, No. 1, March 2017
24 Pages Posted: 8 May 2017
Date Written: May 7, 2016
This paper examines the reception of Western corporate governance models and standards into the Chinese system of corporate governance. It investigates how China has adapted these models to fit in with its political, economic, and cultural norms in reference to its State Owned Enterprises (SOE), a large number of which are now listed in the Global Fortune 500 list. Overall, the study highlights first, the importance of culture in the shaping and functioning of institutions, and in their subsequent path dependence, and secondly the limited impact of property rights, minority shareholder rights, and financial markets as arbiters of the destination of investment funds.
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