Corporate Governance in China
| Autor: | Shen, Hui-chuan, 沈慧娟 |
|---|---|
| Rok vydání: | 2002 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 90 There is a series of agency problems and agency cost related issues arising from the separation of ownership and controlling rights between principle and agency relationship. China’s economic reform has made the agency problems more apparent. There are four major basic problems in China’s corporate governance. First, the concentration of State ownership. Second, the problem with management level’s power of control. Third, its lack of motivation system. Fourth, the lack of a check and balance system for the management team and an organization to oversee corporate integrity in the market has not been formed yet. It can be seen that so many severe problems have occurred by the weakness of corporate governance in China’s security market. China Securities Regulatory Commission (CSRC) has realized the weaknesses and the problems. CSRC has announced some specific resolutions in order to solve these major basic problems. First of all, the shares owned by the States have to be released to eliminate the problem with concentration of ownership. Second, appoint independent corporate directors in order to monitor its operation. Third, establish the modus operandi to guide corporate governance. Fourth, the content and formula of the annual financial report has to be amended. The study would like to summarize and introduce the corporate governance problems and the necessary resolutions from CSRC, in this critical moment. This study uses two research methods. First, by collecting a variety of information from different countries and cases to analyze and compare their advantages and weaknesses. Second, using a case study to analyze the reform mechanism and the reaction from the investors. The study has three purposes: first, by comparing corporate governance models in different countries in order to understand the path to China’s future development; second, investigate the current reform mechanism problems and the changing trail of the Chinese corporations and compare the relative resolutions which have been announced by both the China and Taiwan authorities recently; and third, to provide some guidance and blue print for the future performance of corporate governance. The following conclusions are drawn from the study. First, China’s progress is leaning towards the United States and the United Kingdom models; second, the reform system in corporate governance continues to be led by CSRC; and third, the reform on corporate governance is a gradual and continuous process. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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