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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 as…

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.

Details

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

Open Access
Article
Publication date: 12 December 2023

Ruilong Yang

Since the core issue of Chinese economics is to elucidate the logical relationship between socialism and the market economy, it necessitates a robust foundation for microeconomic…

Abstract

Purpose

Since the core issue of Chinese economics is to elucidate the logical relationship between socialism and the market economy, it necessitates a robust foundation for microeconomic analysis to uncover the behavioral patterns and characteristics of microeconomic agents in a socialist market economy and identify the conditions and methods for the functioning of market mechanisms.

Design/methodology/approach

The core issue of microeconomics with Chinese characteristics is to identify the economic logic of how market mechanisms play a decisive role in resource allocation under the basic socialist economic system based on China's reform.

Findings

The core issue in building the foundation of microeconomic analysis of Chinese economics is addressing the compatibility issue between SOEs and a market economy.

Originality/value

In the author’s view, this can be achieved under the logic of classified reform so as to build the microeconomic foundation for the effective functioning of a socialist market economy.

Details

China Political Economy, vol. 6 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

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 intend to be…

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.

Details

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

Keywords

Open Access
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 the…

2528

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.

Details

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

Keywords

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.

1098

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.

Details

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

Keywords

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…

1151

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.

Details

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

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 are simply…

119

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.

Details

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

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 society in…

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

Article
Publication date: 19 October 2010

Orapan Khongmalai, John C.S. Tang and Sununta Siengthai

The primary objectives of this paper are to: develop a multi‐attribute pattern of the corporate governance model in Thai state‐owned enterprises; assess the relative importance of

3825

Abstract

Purpose

The primary objectives of this paper are to: develop a multi‐attribute pattern of the corporate governance model in Thai state‐owned enterprises; assess the relative importance of different corporate governance practices; and provide detailed information of each corporate governance practice.

Design/methodology/approach

Qualitative and quantitative approaches were used. A case study was conducted to gather information on specific corporate governance behaviors in Thai state‐owned enterprises. Then a questionnaire was developed and tested in 38 Thai state‐owned enterprises. Factor analysis was conducted to examine a common framework of corporate governance practices.

Findings

This research demonstrated the multi‐attribute nature of the corporate governance model in Thai state‐owned enterprises. According to this model, the most important corporate governance practice is strategic human resource management, followed by information technology, board of directors, risk management, internal control, and internal audit sequentially. Additionally, this study brings out insights into corporate governance practices that represent the specific characteristics of Thai state‐owned enterprises.

Research limitations/implications

This study is limited by the fact that the sample represents only Thai state‐owned enterprises. Further studies should be conducted to better understand the complexity of the multi‐attribute nature of the corporate governance model in state‐owned enterprises in developing countries.

Practical implications

Policy makers can utilize the multi‐attribute nature of the corporate governance model as a guideline for the further development of corporate governance practices in other state‐owned enterprises.

Originality/value

This study demonstrated the multi‐attribute nature of the corporate governance model in state‐owned enterprises in developing countries such as Thailand. This research confirms the broad principles of corporate governance as well as providing detailed information on corporate governance practices from a new perspective.

Details

Corporate Governance: The international journal of business in society, vol. 10 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 1 January 1992

DW Taylor and KC Liu

Financial performance measures of State‐owned enterprise in China have assumed a more diverse role as a result of reform programmes which have introduced greater degrees of…

Abstract

Financial performance measures of State‐owned enterprise in China have assumed a more diverse role as a result of reform programmes which have introduced greater degrees of operating management autonomy, market responsibility and profit sharing incentives at the enterprise level. This paper reviews the changing role of accounting performance criteria in meeting the needs of operating managers of State enterprise who have an increased decision‐making autonomy, while also maintaining the needs of government bureaus for financial performance criteria related to economic planning and control at the regional and national levels. Using a case study of a State‐owned department store in Guangzhou, an assessment is made of the conceptual and practical difficulties facing China's policy‐makers in setting accounting ratio performance indicators for State commercial enterprises. An alternative set of primary financial performance indicators for such enterprises is constructed by considering approaches adopted in other socialist countries.

Details

Asian Review of Accounting, vol. 1 no. 1
Type: Research Article
ISSN: 1321-7348

1 – 10 of over 77000