File Download
Supplementary

Conference Paper: Corporate Governance in China: Current Practices, Economic Effects, and Institutional Determinants

TitleCorporate Governance in China: Current Practices, Economic Effects, and Institutional Determinants
Authors
KeywordsCorporate governance
control-based model
the Chinese economy
Issue Date2005
Citation
CESifo Economic Studies Conference on Understanding the Chinese Economy, Munich, Germany, 10-11 June 2005 How to Cite?
AbstractIn this paper, we provide a preliminary survey of the burgeoning literature on corporate governance in China. We structure the existing research around three themes: (1) What are the current corporate governance practices in China? (2) How do these corporate governance practices affect Chinese firms’ valuation and various corporate policies? (3) How does China’s unique institutional setting pre-determine the governance model adopted in China? The evidence indicates that the current governance practices adopted in China can be best described as a control-based model, which contrasts strikingly with the market-oriented model commonly used in the US and UK, and championed by most corporate governance advocates. The evidence also shows that Chinese firms, whose corporate governance practices deviate from the control based model, demonstrate stronger performance, and tend to make decisions in line with the shareholders’ interest. The evidence from the literature also suggests that the control-based model root in the ‘administrative governance’ approach adopted by the Chinese regulatory authorities, and is tailed to China’s specific institutional setting.
Persistent Identifierhttp://hdl.handle.net/10722/114923

 

DC FieldValueLanguage
dc.contributor.authorLiu, Qen_HK
dc.date.accessioned2010-09-26T05:22:07Z-
dc.date.available2010-09-26T05:22:07Z-
dc.date.issued2005en_HK
dc.identifier.citationCESifo Economic Studies Conference on Understanding the Chinese Economy, Munich, Germany, 10-11 June 2005-
dc.identifier.urihttp://hdl.handle.net/10722/114923-
dc.description.abstractIn this paper, we provide a preliminary survey of the burgeoning literature on corporate governance in China. We structure the existing research around three themes: (1) What are the current corporate governance practices in China? (2) How do these corporate governance practices affect Chinese firms’ valuation and various corporate policies? (3) How does China’s unique institutional setting pre-determine the governance model adopted in China? The evidence indicates that the current governance practices adopted in China can be best described as a control-based model, which contrasts strikingly with the market-oriented model commonly used in the US and UK, and championed by most corporate governance advocates. The evidence also shows that Chinese firms, whose corporate governance practices deviate from the control based model, demonstrate stronger performance, and tend to make decisions in line with the shareholders’ interest. The evidence from the literature also suggests that the control-based model root in the ‘administrative governance’ approach adopted by the Chinese regulatory authorities, and is tailed to China’s specific institutional setting.-
dc.languageengen_HK
dc.relation.ispartofCESifo Economic Studies Conference on Understanding the Chinese Economyen_HK
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.subjectCorporate governance-
dc.subjectcontrol-based model-
dc.subjectthe Chinese economy-
dc.titleCorporate Governance in China: Current Practices, Economic Effects, and Institutional Determinantsen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailLiu, Q: qliu@hku.hken_HK
dc.identifier.authorityLiu, Q=rp01078en_HK
dc.description.naturepostprint-
dc.identifier.hkuros105583en_HK

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats