Based on extensive original economic analysis, Chen examines key questions relating to corporate governance in China, including the relationship between ownership structure and corporate performance, the determinants of capital structure, and the nature of contemporary governance structures. It concludes that corporate performance is positively related to ownership concentration, but negatively related to state ownership, and that contemporary corporate governance structures are heavily dependent on previous structures in the centrally-planned economy and on the path of transition to the market economy.
Author(s): Jian Chen
Edition: 1
Year: 2004
Language: English
Pages: 192
Book Cover......Page 1
Title......Page 4
Contents......Page 5
List of figures......Page 11
List of tables......Page 12
Preface......Page 14
Acknowledgements......Page 15
List of abbreviations......Page 16
Introduction......Page 18
Theoretical approaches to corporate governance......Page 27
The evolution of corporate governance in China......Page 48
The effect of ownership structure on the underpricing of Initial Public Offerings......Page 79
Ownership structure as a corporate governance mechanism......Page 105
The determinants of capital structure......Page 122
Chinese corporate groups: a perspective from governance structure......Page 140
General conclusions and future work......Page 163
Notes......Page 170
References......Page 174
Index......Page 187
