Between Bureaucracy and Market: Chinese Industrial Groups in Search of New Forms of Corporate Governance

Jean-François Huchet () and Xavier Richet ()
Additional contact information
Jean-François Huchet: CEFC - Centre d'études français sur la Chine contemporaine - CNRS - Centre National de la Recherche Scientifique
Xavier Richet: ICEE - ICEE - Intégration et Coopération dans l'Espace Européen - Etudes Européennes - EA 2291 - Université Sorbonne Nouvelle - Paris 3

Post-Print from HAL

Abstract: This paper investigates the peculiar and contradictory nature of the on-going construction of a system of corporate governance in China. The analysis attempts to overcome the limits of traditional corporate studies that tend to focus on enterprise management, and puts the issue within the framework of the systemic and political relationships that shape economic management and state intervention in large enterprises in transitional socialist systems. The emergence of a specific managerial culture within the market and of winners among the enterprises is related to the position still held by the state in the enterprise asset, and by the access to competitive markets available to the enterprises. State owned enterprises, enjoy the protection of their status but they are more successful and adopt a more profit-oriented management culture if they operate in the internationalised and competitive markets rather than in the strategical lowprofit, state-dominated sectors. Due to continuous interaction between enterprise management and external (policy or macro-economic) factors, and to the absence or underdevelopment of most of the institutions generally necessary for a sound corporate governance system (financial markets, bank independence, free press etc.) the privatisation does not seem sufficient to engender all round market-led governance.

Keywords: Corporate governance system in China; China; Chinese State Enterprises; State Capitalism; Private enterprises; Chinese industrial Groups (search for similar items in EconPapers)
Date: 2002
Note: View the original document on HAL open archive server: https://inalco.hal.science/hal-01331919
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Post-Communist Economies, 2002, ⟨10.1080/14631370220139918⟩

Downloads: (external link)
https://inalco.hal.science/hal-01331919/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01331919

DOI: 10.1080/14631370220139918

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().