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Article
Publication date: 1 January 1993

Gary A. Lombardo

The exogenous factors influencing state enterprise managerial decision making in the People's Republic of China are identified. These environmental forces are categorized…

Abstract

The exogenous factors influencing state enterprise managerial decision making in the People's Republic of China are identified. These environmental forces are categorized as governmental and sociocultural in nature. Governmental influences are the centralized management of the economy, the dual command structure found in the Chinese state enterprises, state enterprise financing, product quality, and state enterprise production quotas. Sociocultural influences are morality, deference to authority, risk avoidance, long term view, community versus individual orientation and the legal system.

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International Journal of Commerce and Management, vol. 3 no. 1/2
Type: Research Article
ISSN: 1056-9219

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Article
Publication date: 1 June 2003

Joanna Kruczalak‐Jankowska and Kazimerz Kruczalak

The main purpose of this paper is to approach the legal problems of mass privatisation in Poland. The authors present the structure of national investment funds which…

Abstract

The main purpose of this paper is to approach the legal problems of mass privatisation in Poland. The authors present the structure of national investment funds which intend to be the experimental financial intermediaries in Poland. Their assets are quoted on the Stock Exchange in Warsaw from the beginning of May 1997. New and controversial roles of management firms are discussed in this paper.

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Journal of Economic Studies, vol. 30 no. 3/4
Type: Research Article
ISSN: 0144-3585

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Book part
Publication date: 18 April 2011

Lan Jiang

China has achieved continuous economic growth and become more integrated with the global economy since the start of the current financial crisis in late 2008. As the…

Abstract

China has achieved continuous economic growth and become more integrated with the global economy since the start of the current financial crisis in late 2008. As the second largest economy in the world, China's political policies, economic and social development have influence on global economy. Attention has been paid worldwide to the current Chinese legal system, political policies and the development of economic reform since China entered the World Trade Organisation in November 2001. The corporate governance reform is the centre of the enterprise reform. In September 1999, The Fourth Plenum of the Chinese Communist Party's 15th central Committee identified that corporate governance is the core of the modern enterprise system. In recent years China has made significant progress in developing the foundations of a modern corporate system. There are more than 1,200 companies which have successfully diversified their ownership through public listing and 80% of small and medium size companies have been transformed into non-state-owned enterprises. More and more state-owned enterprises are on the way to transforming into corporations. China has formed a legal framework for corporate governance.

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Governance in the Business Environment
Type: Book
ISBN: 978-0-85724-877-0

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Book part
Publication date: 11 December 2007

Ira W. Lieberman

Russia's size – both in terms of population and geography, spanning 11 time zones, 89 oblasts (states or regions) and autonomous republics and its privatization program…

Abstract

Russia's size – both in terms of population and geography, spanning 11 time zones, 89 oblasts (states or regions) and autonomous republics and its privatization program, encompassing some 100,000 small-scale enterprises, 25,000 medium to large firms, and 300 or so of its largest firms, made its privatization program the largest sale/transfer of assets conducted among the transition economies, with the possible exception of China. Comparisons by many of the program's critics, and there are many, to Poland, Hungary, or the Czech republic are invidious, especially the latter two countries whose populations are similar to just that of greater Moscow.

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Privatization in Transition Economies: The Ongoing Story
Type: Book
ISBN: 978-1-84950-513-0

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Book part
Publication date: 1 January 2006

David Metcalf and Jianwei Li

China has, apparently, more trade union members than the rest of the world put together, but the unions are subservient to the Party-state. The theme of the paper is the…

Abstract

China has, apparently, more trade union members than the rest of the world put together, but the unions are subservient to the Party-state. The theme of the paper is the gap between rhetoric and reality. Issues analysed include union structure, membership, representation, and the interaction between unions and the Party-state. We suggest that Chinese unions inhabit an Alice in Wonderland dream world and that they are virtually impotent when it comes to representing workers. Because the Party-state recognises that such frailty may lead to instability it has passed new laws promoting collective contracts and established new tripartite institutions to mediate and arbitrate disputes. While such laws are welcome they are largely hollow: collective contracts are very different from collective bargaining and the incidence of cases dealt with by the tripartite institutions is tiny. Much supporting evidence is presented drawing on detailed case studies undertaken in Hainan Province (the largest and one of the oldest special economic zones) in 2004 and 2005. The need for more effective representation is appreciated by some All China Federation of Trade Unions (ACFTU) officials, but it seems a long way off, so unions in China will continue to echo the White Queen: “The rule is, jam tomorrow and jam yesterday – but never jam today” and, alas, tomorrow never comes.

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Advances in Industrial & Labor Relations
Type: Book
ISBN: 978-1-84950-470-6

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Article
Publication date: 13 December 2019

Qunhui Huang and Yu Jing

In the 40 years of reform and opening-up toward a more rational micro-economic structure, the proportion of output of state-owned enterprises shows a declining trend. Over…

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Abstract

Purpose

In the 40 years of reform and opening-up toward a more rational micro-economic structure, the proportion of output of state-owned enterprises shows a declining trend. Over the past decade, on one hand, the operational efficiency of state-owned enterprises has tended to be low as compared to other ownership enterprises; on the other hand, the asset–liability ratio of state-owned enterprises has risen against the trend, and still remains high under the recent national policy of “deleveraging.” The paper aims to discuss this issue.

Design/methodology/approach

This indicates that the inefficiency of state-owned enterprises that once hindered China’s economic development has not yet been fundamentally solved, and the task of deepening state-owned enterprises reform is still arduous.

Findings

In the process of establishing China’s modern economic system, there will be some “new state-owned enterprises” growing into world-class ones. This requires more effort in enhancing the capacity for independent innovation, improving the level of organizational control, expanding international market opportunities and fulfilling enterprise social responsibilities with high standards.

Originality/value

It is more appropriate for China to have a micro-economic structure in which public ownership predominates and diverse forms of ownership enjoy common prosperity and development.

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China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

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Article
Publication date: 15 May 2009

Xuefeng Lu

This paper aims to comment upon the governance systems of state‐owned enterprises in Shanghai and to consider the adequacy or otherwise of those governance structures.

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Abstract

Purpose

This paper aims to comment upon the governance systems of state‐owned enterprises in Shanghai and to consider the adequacy or otherwise of those governance structures.

Design/methodology/approach

The paper presents a study of existing governance arrangements and structures and considers areas for possible reform.

Findings

A sound corporate governance system is of great significance not only to the healthy development of enterprises but also for the enterprises to survive when they face the economic crisis. With the continuous spread of the world economic crisis, how to improve the corporate governance of state‐owned enterprises in Shanghai so that they can pass the financial crisis period safely has become one urgent and critical issue.

Originality/value

The study presents detail and reform areas for further reflection.

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International Journal of Law and Management, vol. 51 no. 3
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 1 January 2006

Lan Jiang

Following China entered the World Trade Organisation in November 2001, attention has been paid worldwide to the current Chinese legal system, political policies, and the…

Abstract

Following China entered the World Trade Organisation in November 2001, attention has been paid worldwide to the current Chinese legal system, political policies, and the development of economic reform. Recent debates on corporate governance in China have become a global topic of interest. The corporate governance reform is now the centre of the enterprise reform. This paper evaluates the development of corporate governance reform in China and identifies its changes in legislation on corporate control. This paper provides evidence to show that China has been making significant progress in the development of corporate governance reform. It concludes that China has established a fundamental legal framework for corporate governance. The changes in regulations on corporate control indicate that the development of a more sophisticated corporate governance system is under way. However, corporate governance reform in China is still at an early stage of development. The existing problems are still significant. Laws and legal institutions have experienced difficulties keeping up with the changes that have been taking place in China. The rights of selecting management of state‐owned enterprise still remain in the hands of the state. The reform of the banking system lags behind the development of the market economy and state‐owned banks are still under government's control. The paper argues that in Chinese context as far as the rights of selecting management remain in state's hand, the independent board of directors will have less power to achieve the goals in corporate control. Thus the agency problems will not be solved, and it is very difficult to excise and protect minority shareholders' interest. In today's Chinese market the corporate governance cannot provide the protection of minority investors' interests. This paper also argues that it is very dangerous for individual investors to invest in the Chinese market and they have to bear higher risks. This paper suggests that increasing the Sophistication of the corporate governance system of both internal and external control is the key for the Chinese market. This is because the Chinese context is very complicated. There are so many regulations and laws applied in business practice. Different companies and enterprises apply different laws. This paper points out when a national corporate governance system is established it should serve the whole economic market. Thus the further reform of state‐owned enterprises and also the banking system should take place so that China can build up a real economic market structure according to international regulations. This paper also suggests that in the long‐term, building up a cultural background for applying corporate governance system is very important in Chinese society. Improving the culture in the social environment could help to improve the corporate governance in business practices.

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Social Responsibility Journal, vol. 2 no. 1
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 1 May 1988

Ernest Raiklin

Studies concerning Soviet taxation demonstrate a diversity of opinions on the nature of turnover taxes. Four major views on the subject have emerged: (1) turnover taxes…

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103

Abstract

Studies concerning Soviet taxation demonstrate a diversity of opinions on the nature of turnover taxes. Four major views on the subject have emerged: (1) turnover taxes are simply a sales (excise) tax on articles' of consumption sold to the Soviet consumer; (2) not all turnover taxes are a sales tax, some of them are a substitute for rent on production of certain industrial materials; (3) in addition to being a sales (excise) tax on consumer goods and rent on some industrial materials, there exists a third type of turnover tax which is levied on agricultural production of the peasantry; (4) turnover taxes are a portion of the surplus product produced in industry and agriculture.

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International Journal of Social Economics, vol. 15 no. 5/6
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 May 1988

Ernest Raiklin and Charles C. Gillette

The purpose of this second part of this special issue is to contribute to a better understanding of the nature of Soviet society. It is not possible to analyse such a…

Abstract

The purpose of this second part of this special issue is to contribute to a better understanding of the nature of Soviet society. It is not possible to analyse such a society in all its complexities within the space of one study. There are, however, some economic relations which determine society's major features. We believe that commodity‐production relations in the Soviet Union are of this type.

Details

International Journal of Social Economics, vol. 15 no. 5/6
Type: Research Article
ISSN: 0306-8293

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