Corporate Governance Practices of Major Types of Chinese Enterprises and Institutional Constraints on Corporate Governance Improvements during Transition
Corporate Governance Practices of Major Types of Chinese Enterprises and Institutional Constraints on Corporate Governance Improvements during Transition
In this chapter, the design and the implementation of corporate governance mechanisms in the four types of Chinese enterprises—state-owned enterprises (SOEs), listed companies, village enterprises (TVEs), and private enterprises—are examined in terms of the impact they all have on the Chinese economy's growth prospects and on firm performance. Aside from investigating the reform strategies for the different enterprises and identifying the common problems across the reforms, the chapter studies the reform and restrictions imposed on improvements in corporate governance. This chapter reveals how the need for further reform or better implementation arose, how privatization was carried out in a decentralized manner, how efficiency gains were achieved, and how private enterprises served as the major contributor to employment expansion and economic growth.
Keywords: sate-owned enterprises, listed companies, private enterprises, village enterprises, implementation, efficiency gains, privatization, employment expansion, economic growth
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