Details

The Governance Structures of Chinese Firms

Innovation, Competitiveness, and Growth in a Dual Economy
Innovation, Technology, and Knowledge Management

von: Chun Liao
149,79 €
Verlag:	Springer
Format:	PDF
Veröffentl.:	02.08.2009
ISBN/EAN:	9781441900364
Sprache:	englisch
Anzahl Seiten:	206

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Beschreibungen

Inhaltsverzeichnis

General Theory.- Firms’ Governance Structure in the Chinese State Sector.- Firms’ Governance Structure in the Chinese Private Sector.- Foreign Direct Investment, Technology Transfer, and Dual Convergence in the Dual-Structured Chinese Market Economy.

Autorenportrait

Liao, Chun is a professor of economics at Shanghai Lixin University of Commerce in Shanghai, China. She holds a PhD in Economic Sociology (the research field of firms’ governance structures, business systems and innovation systems) from Free University, Berlin. She has published more than 40 articles on Chinese business, economics, and policy, in such journals as Finance and Trade Economy and China Economists, and is coauthor of Knowledge-Based Economy and Economic Globalization (Guangdong Tourism Press, 1999).

Back cover copy

China’s extraordinary economic growth is inspiring research from a wide spectrum of fields to explain the phenomenon: What are the primary drivers of China’s economic growth? Can it be sustained? Can the Chinese business model be emulated by other countries? What long-term effects will China’s economic growth have on the global economy? In this volume, Chun Liao explores these issues in the context of firms’ governance structures, arguing that China’s dual business system of state-owned enterprises and private enterprises is uniquely suited to the challenges of economic development in the twenty-first century. On the one hand, China’s state-owned enterprises are characterized by state coordination, bank financing, insulation from the stock market fluctuations, and incremental productivity-enhancing innovations, which are similar to the firms in the business systems of coordinated market economies (like Germany and Japan). On the other hand, China’s private enterprises are characterized by private (often family) ownership, hard budget constraints, profit maximization, and more risky radical innovation, which are similar to the firms in the business systems of liberal market economies (like the US and the UK). Based on the state controlling shareholding in the state sector, the boundary between the state sector business system and private sector business system is clear. This dual type system is contrasted with those in liberal market economies and those in coordinated market economies, where only one type system dominates. Drawing from empirical data and industry analysis over the past 15 years, Liao provides unparalleled access to the dynamics of the Chinese economy, including ownership structure, management design, labor-management relations, business infrastructure, capitalization (including role of banks and financial institutions, private investment, and FDI) in both the public and private sectors. In the process, she analyzes both opportunitiesand challenges that result from China’s dual business system, particularly in regard to innovation, core competitiveness, and sustainable growth in both state strategic technology-based industries and private high technology industries . The result is an approach that sheds new light on China’s economic performance and its rise as a player on the international stage.

Sonderbeitrag

First analysis of corporate governance and the dual structure of China’s economy with respect to competitiveness, innovation, and growth Fresh explanation for China’s phenomenal economic performance; argues that China’s system is unique and well suited to the dynamics of globalization Compares Chinese firm governance with other countries, including the US, UK, Germany, Japan, and South Korea Applies the most current data, with an insider’s extensive access Includes supplementary material: sn.pub/extras