Download or read book Antecedents of State owned enterprises Acquisition by Private Business Groups in China written by Yun Zhang and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During China's gradual transition from a centrally planned economy to a market-based economy, the acquisition of State-Owned Enterprises (SOE) by private enterprises has been an eye catching phenomenon and regarded a key growth means for Chinese private business groups (PBG). SOE acquisitions in such unique institutional embeddings are expected to be motivated by two distinct while complementary rationalities--economic rationality (acquisition of efficiency enhancing recourses such as property-based and knowledge-based resources endowed in target SOEs) and social capital rationality (acquisition of governmental networking resources inherited in target SOEs). Two models are proposed to examine the correlation between SOEs' resource endowments and PBGs' degree of acquisitiveness on a sample of 49 SOE acquisition cases taken place in China's stock markets during 1997 to 2000. The results suggest that, in general, SOEs' social capital endowment has significant positive impacts on PBGs' degree of acquisitiveness, while property-based and knowledge-based resources are barely influential. However, PBGs demonstrate different acquisitive preferences at different stages of group development. Acquisitive preferences also differ greatly if founders of PBGs carry different social characteristics.

Download or read book Under New Ownership written by Shahid Yusuf and published by World Bank Publications. This book was released on 2006 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines China's reform agenda for the privatisation of state-owned enterprises and surveys the results of privatisation measures in other industrialising economies. It draws upon recent survey data to assess changes in the ownership structure of state enterprises on management, governance, innovation and performance relative to other types of firms in China.

Download or read book State owned Enterprise Reform in China written by Justin Yifu Lin and published by Chinese University Press. This book was released on 2001 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is a continuation of the authors' earlier publication, "The China Miracle: Development Strategy and Economic Reform". The authors review the historical evolution of the state-owned enterprises, analyze the current problems, and suggest the direction for future reforms.

Download or read book An Analysis of State Owned Enterprises and State Capitalism in China written by Andrew Szamosszegi and published by Createspace Independent Publishing Platform. This book was released on 2011-10-26 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's breathtaking economic growth, has often led observers to assume that the country's economic system has been transformed into a capitalist economy dominated by private enterprise. Although China's reliance on private enterprise and market-based incentives has been growing, and the CCP's treatment of private enterprises and entrepreneurs has been changing, it would be a mistake to minimize the current role of the State and the CCP in shaping economic outcomes in China and beyond. The Chinese government and state-owned enterprises (SOEs) remain potent economic forces. Indeed, some of China's SOEs are among the largest firms in China and the world. They are major investors in foreign countries. They have been involved in some of the largest initial public offerings in recent years and remain the controlling owners of many major firms listed on Chinese and foreign stock exchanges.

Download or read book Privatizing China written by Carl E. Walter and published by John Wiley & Sons. This book was released on 2003-06-25 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much is written about the various efforts aimed at reforming China’s state-owned enterprises. But in all this literature the Chinese government’s determined effort to use the equity capital markets as a tool of enterprise reform has been virtually ignored. The fact is that during the past decade this has been, and will continue to be, the principal thrust with regard to the reform of state-owned enterprises. On-again, off-again, noises about bankruptcy, M&A solutions and asset management companies are only sideshows in the process. Carl E. Walter is a Managing Director of JP Morgan and Chief Operating Officer of its China businesses. Prior to joining JP Morgan in 2001, Mr. Walter was a Managing Director and member of the Management Committee of China International Capital Corporation. He was Chief Representative in Beijing for Credit Suisse First Boston from 1993-8. During his decade in China, Mr. Walter has participated in a number of pathbreaking international and domestic share listings and debt issues for Chinese companies, banks and the Ministry of Finance. He holds a PhD from Stanford University and a graduate certificate from Beijing University. Fraser Howie is an independent financial analyst located in Beijing. Over the past ten years he has worked in Hong Kong trading equity derivatives at Bankers Trust and Morgan Stanley. After moving to China in 1998 he worked in the Sales and Trading Department of China International Capital Corporation then with a domestic retail financial services company and most recently with China M&A Management Company.

Download or read book State owned Enterprises and State Captialism in China written by William K. Martin and published by . This book was released on 2012 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's breathtaking economic reform, including the rise of private enterprise, has often led observers to assume that the country's economic system has been transformed into a capitalist economy dominated by private enterprise. A number of economic, political and policy trends demonstrate that the Chinese economy has become more market-oriented. Chinese statistics show a dramatic rise in the number of ostensibly private enterprises since the late 1970s. China now has stock exchanges in two cities and hundreds of Chinese firms now have listings in exchanges beyond the mainland. In 1978, capitalists in China were official "class enemies" but in 2001 they were welcomed into the Chinese Communist Party. China's once insular economy now imports more than one trillion dollars annually and is one of the top destinations for foreign investments. This book examines state-owned enterprises (SOEs) in China and the role they play in China's economy, politics and foreign policy.

Download or read book Mergers and Acquisitions Between Western Companies and Chinese State owned Enterprises written by Chen, Xi and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming China s State owned Enterprises written by Shangquan Gao and published by Beijing : Foreign Languages Press. This book was released on 1997 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment Merger and Acquisition in China written by Jinquan Xiao and published by . This book was released on 2005 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book China s State Owned Enterprises written by Duanjie Chen and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's state-owned enterprises (SOEs) are sometimes compared to Canadian Crown corporations, such as VIA Rail or the CBC. But that comparison is not only profoundly inaccurate, it can also be a dangerous assumption to make when crafting Canadian economic policy. China's SOEs have been actively buying up interests in major Canadian resource firms. But that phenomenon has much more serious implications for Canada than if these were, say, state-owned European firms, such as Norway's Statoil. China's SOEs do not operate by the normal rules of commerce. They are, in fact, a very powerful tool of the Chinese government's industrial policy, which is aimed at a ruthless expansion of its global economic empire. The spectacular growth of China's SOEs over the last two decades, at a rate unrivalled by virtually any other sector on earth, has been driven by the will of the Chinese government, which provides cheap or free inputs -- such as access to capital and real estate -- in order to create globally dominant corporate powers. There is also the Chinese competitive advantage that comes with not just lower wages for workers but also behaviour that would be considered irresponsible in a Western context. Placing a lower priority on human rights, the environment, social justice and corporate rectitude give China and its SOEs an edge that have helped them in their goal of leapfrogging competing world economic powers, including Canada. Without these explicit and implicit subsidies, China's SOEs have actually proven to be far less economically competitive than their private-sector rivals. Chinese SOEs are not publicly accountable the way that Crown corporations in Canada are. Chinese SOEs are run by appointees of the Communist party, whose first duty is to the state, the majority or even sole shareholder of SOEs. Unlike Canada's Crown corporations, which are designed to fill in market-failure gaps or provide public service, China's SOEs are permitted to chase profits in sectors that do not even fall within their primary mandate. And unlike Canada, China jealously guards the sectors in which its SOEs exert absolute or strong control, disallowing any private-sector competitors -- domestic or foreign -- free entry. When Canada's federal government last December granted approval to the takeover of Nexen Inc. it made it clear that this would be the “end of a trend” of Chinese SOEs controlling acquisition of major Canadian energy firms. Such takeovers would be allowed only in exceptional circumstances from now on. That is how it should be. Canada's business sector should contribute to market-driven economic growth, through efficient management and upright corporate behavior. It should not be allowed to become an instrument in China's distorted and often disreputable drive toward global hegemony.

Download or read book The History of Corporate Ownership in China written by Elisabeth Köll and published by . This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the emergence of corporate ownership in China from the final decades of the Qing empire in the late 19th century to the early Republican period in the 1910s and 1920s. By analyzing the actual process of incorporation, the development of the legal and financial environment, in particular the role of the state, we ask whether the top-down approach, in which the central government established a legal framework for corporate enterprise based on Western models and the assumption that it would work as it did for Western firms and markets, was a viable approach to the modernization of a financial system traditionally dominated by family businesses and economic state patronage. Using business records from turn-of-the-century Chinese corporate companies, this paper argues that the government's top-down approach, while clearly well-intentioned, created a framework which only insufficiently promoted the system of corporate capitalism in pre-war China.

Download or read book Master s Theses Directories written by and published by . This book was released on 2006 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Education, arts and social sciences, natural and technical sciences in the United States and Canada".

Download or read book Antecedents and consequences of employee based brand equity written by Muhammad Waseem Bari and published by Frontiers Media SA. This book was released on 2023-04-06 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book How China Promotes Its State Owned Enterprises at the Expense of Multinational Companies Doing Business in China and in Other Countries written by Daniel C. K. Chow and published by . This book was released on 2015 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's mercantilist approach towards international business and trade uses a two pronged strategy to promote China's state-owned enterprises (SOEs) at the expense of multinational companies (MNCs) doing business in China and other foreign countries. Within its borders, China uses the Anti-Monopoly Law (AML) and the Anti-Unfair Competition Law (AUCL) to pressure, harass, and intimidate MNCs. China uses the AML to coerce MNCs to transfer assets to SOEs, provide access to their advanced technologies to Chinese companies, and to protect famous Chinese brands from being acquired by foreign companies. China has also used the AUCL and various associated laws to crack down on commercial bribery by MNCs using dawn raids and other heavy handed tactics.Outside of its borders, China uses free trade agreements with its trading partners that do not contain provisions relating to workers' rights, the environment, and transparency in government. China's SOEs are also not being prosecuted for bribing foreign officials in exchange for business opportunities. By contrast, U.S.-based MNCs are subject to myriad restrictions on their conduct abroad by a complex set of federal laws, including treaties imposing obligations concerning workers' rights, the environment, and transparency. Bribery of foreign officials by U.S.-based MNCs is subject to intense scrutiny by U.S. authorities. China's lack of restrictions on SOEs allows them to do business abroad at lower costs and with almost complete freedom on how they wish to conduct their business activities. While China is slowly and quietly creating SOEs that will dominate international business, the international business community does not seem to have taken much notice and may not realize this development until China's SOEs become so powerful that there may little if anything that can be done to curtail their dominance.

Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Download or read book Chinese State Owned Enterprises in Australia Legal and Investment Challenges written by Roman Tomasic and published by . This book was released on 2015 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chinese State Owned Enterprises (SOEs) accounted for 84% by value of Chinese foreign investment in Australia. At the same time, SOEs have served as national 'champions' working for the advancement of China's national interests. In some ways they have much in common with sovereign wealth funds. With the finalization of the Free Trade Agreement between China and Australia, Chinese investment in Australia is likely to increase. Our main concern here is to examine China's government controlled SOEs, their characteristics and what this should mean for the way in which their investments are regulated. The SOE sector in China's one-Party state is being transformed and is subject of domestic reform efforts under the leadership of the Communist Party of China (CPC). Following the example set by the reform of the CITIC Group, the PRC government in 2014 announced plans to further reform its inefficient state-owned enterprises; it identified six large SOEs for a pilot program aimed at attracting private investment to SOEs and at improving SOE corporate governance and economic performance. By attracting private investment into SOEs, hybrid SOE-private sector structures may be created, leading to changes in both the ownership and the culture of these firms. CITIC may have served as something of a model in this regard. Communist Party oversight of China's SOEs will continue to be important, even if large state owned firms enjoy a high degree of autonomy in their economic activities; as China's SOEs “go global”, they will remain different from other foreign multinational companies and, as national champions, will continue to be driven by political as well as economic considerations. For this reason, they should not be treated in the same way as privately controlled foreign companies. This paper explores these distinctive features of China's SOEs which set them apart from other major foreign companies.

Download or read book Multinational Enterprises Markets and Institutional Diversity written by Alain Verbeke and published by Emerald Group Publishing. This book was released on 2014-10-29 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research volume in honour of the late Daniel Van Den Bulcke, one of the founding fathers of the European Business Academy (EIBA) and a core institution builder of the Academy of International Business (AIB), focuses on conceptual innovations in assessing the impact of institutions on multinational enterprise (MNE) strategies.