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Article: The role of financial institutions in the corporate governance of listed Chinese companies

TitleThe role of financial institutions in the corporate governance of listed Chinese companies
Authors
Issue Date2009
PublisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/BJOM
Citation
British Journal Of Management, 2009, v. 20 n. 4, p. 562-580 How to Cite?
AbstractThis paper explores the role of Chinese financial institutions in the corporate governance of listed companies through interviews with both senior managers of financial institutions and board directors of listed companies. Our results show that, while most securities companies are passive investors, a good proportion of the active mutual funds help their portfolio companies prepare financial forecasts, standardize their operations, raise external funds, strengthen their company image in the capital markets, and sometimes intervene in corporate issues. This limited role can be attributed to a number of factors specific to the Chinese context including highly concentrated state ownership, an immature regulatory environment, inadequate transparency and disclosure of financial information, and weak corporate governance within financial institutions themselves. It could also be affected by several other factors that are considered to cause institutional passivity in developed countries such as conflicts of interest, monitoring costs and lack of expertise. © 2008 British Academy of Management.
Persistent Identifierhttp://hdl.handle.net/10722/188461
ISSN
2015 Impact Factor: 2.188
2015 SCImago Journal Rankings: 1.371
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorYuan, Ren_US
dc.contributor.authorXiao, JZen_US
dc.contributor.authorMilonas, Nen_US
dc.contributor.authorZou, JHen_US
dc.date.accessioned2013-09-03T04:07:43Z-
dc.date.available2013-09-03T04:07:43Z-
dc.date.issued2009en_US
dc.identifier.citationBritish Journal Of Management, 2009, v. 20 n. 4, p. 562-580en_US
dc.identifier.issn1045-3172en_US
dc.identifier.urihttp://hdl.handle.net/10722/188461-
dc.description.abstractThis paper explores the role of Chinese financial institutions in the corporate governance of listed companies through interviews with both senior managers of financial institutions and board directors of listed companies. Our results show that, while most securities companies are passive investors, a good proportion of the active mutual funds help their portfolio companies prepare financial forecasts, standardize their operations, raise external funds, strengthen their company image in the capital markets, and sometimes intervene in corporate issues. This limited role can be attributed to a number of factors specific to the Chinese context including highly concentrated state ownership, an immature regulatory environment, inadequate transparency and disclosure of financial information, and weak corporate governance within financial institutions themselves. It could also be affected by several other factors that are considered to cause institutional passivity in developed countries such as conflicts of interest, monitoring costs and lack of expertise. © 2008 British Academy of Management.en_US
dc.languageengen_US
dc.publisherBlackwell Publishing Ltd. The Journal's web site is located at http://www.blackwellpublishing.com/journals/BJOMen_US
dc.relation.ispartofBritish Journal of Managementen_US
dc.titleThe role of financial institutions in the corporate governance of listed Chinese companiesen_US
dc.typeArticleen_US
dc.identifier.emailZou, JH: hongzou@hku.hken_US
dc.identifier.authorityZou, JH=rp01800en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/j.1467-8551.2008.00602.xen_US
dc.identifier.scopuseid_2-s2.0-73849124542en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-73849124542&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume20en_US
dc.identifier.issue4en_US
dc.identifier.spage562en_US
dc.identifier.epage580en_US
dc.identifier.isiWOS:000272770700011-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridYuan, R=24333616000en_US
dc.identifier.scopusauthoridXiao, JZ=7402564707en_US
dc.identifier.scopusauthoridMilonas, N=6507310872en_US
dc.identifier.scopusauthoridZou, JH=12769328900en_US

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