Institutional Environment, Community Government, and Corporate Governance: Understanding China's Township-Village Enterprises

Jiahua Che () and Yingyi Qian

No 59, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: We study China's township-village enterprises (TVES) from an organizational perspective with a focus on governance. Unlike most previous studies, we interpret the firm boundaries of TVEs at the community level rather than the enterprise level. From this perspective, we analyze the central role that community governments play in TVE governance as an organizational response to the imperfect institutional environment of both state and market. Specifically, we show that the community government's involvement in TVEs helps overcome the problems of state predation and under-financing of private enterprises. We also explain why TVE governance leads to harder budget constraints than state-owned enterprises.

Keywords: institutions; corporate governance; community; township-village enterprises; China (search for similar items in EconPapers)
Pages: pages
Date: 1998-01-01
New Economics Papers: this item is included in nep-law, nep-reg and nep-sea
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Related works:
Journal Article: Institutional Environment, Community Government, and Corporate Governance: Understanding China's Township-Village Enterprises (1998)
Working Paper: Institutional Environment, Community Government, and Corporate Governance: Understanding China's Township-Village Enterprises
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Persistent link: https://EconPapers.repec.org/RePEc:wdi:papers:1998-59

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