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Title
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Corporate governance in China
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| Author(s) |
Tan, Michael N T, School of Modern Language Studies, UNSW
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| Resource Type |
Thesis
Masters Thesis
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| Keyword(s) |
Corporate governance - China
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| Date |
2006 |
| School/Centre |
University of New South Wales. School of Modern Language Studies |
| Description/Abstract |
Since the late nineteen nineties, corporate governance has been recognised
by the Chinese leadership as being an integral and vital part of economic
reform. At the macro level the reform is to transition to a market economy and
at the micro level, business enterprises are adopting sound standards of
corporate governance.
This thesis analyses the various models: the shareholder value, the
stakeholder, the stewardship and the convergence models of corporate
governance. It looks at the Chinese scenario - what model of governance has
China adopted and is it appropriate? What problems of corporate governance
are special to China and how are these problems being resolved?
Many of the problems are due to the fact that China has adopted the
shareholder value model – a model based on the UK / USA. However, unlike
them, China does not posses the requisite institutions necessary to underpin
the efficient functioning of the model. The Chinese capital markets are
nascent and not well regulated, the rule of law is tentative and the regulatory
bodies are lacking in enforcement powers.
In an effort to encourage good corporate governance, the China Securities
Regulatory Commission promulgated the QFII (Qualified Foreign Institutional
Investor) scheme in December 2002 in the hope that by opening the domestic
securities market to foreign financial institutions, this would result in the
implementation of sound corporate governance in Chinese listed companies
as they vied to attract foreign shareholders.
A survey was carried out and the results have only been mildly encouraging.
The QFII has not had the dramatic impact that was expected of it initially and
the reason is that the quotas allocated have been small and the QFII have
had many restrictions placed. Until these are loosened the impact of the QFII
will continue to be modest. |
| Language |
EN |
| Rights |
Please click here to view the rights |
| Citation Link |
Please use this identifier to cite or link to this item: http://handle.unsw.edu.au/1959.4/24269 |
| Full Text | 
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| Total Attachment(s) | 2 |
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