Pause for Reflection

Stewart Hamilton and Jinxuan Ann Zhang
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Stewart Hamilton: IMD

A chapter in Doing Business with China, 2012, pp 149-167 from Palgrave Macmillan

Abstract: Abstract Memories are short, and lessons have not been learned. Following the CAO incident in 2004, CITIC Pacific became another casualty—another Chinese SOE venturing abroad that incurred substantial losses due to “speculative” derivatives trades. Clearly, CITIC Pacific was not an isolated case of betting wrongly on the Australian dollar. There were many other Chinese companies in the same boat: news reports at the time claimed that about 28 Chinese SOEs were involved in derivative trades and that most of them were facing losses.

Keywords: Corporate Governance; Chinese Company; Audit Committee; Parent Company; Minority Shareholder (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230305458_13

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