Historical Evolution, Financing And The Changing Nature Of Corporate Governance In China’s Collective Township And Village Enterprises
Collective township and village enterprises (CTVEs) have been the driving force behind China’s high rate of economic growth over a sustained period. The objective of this article is to offer one possible explanation for the emergence of new governance structures in China’s CTVE sector. The articl...
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| Format: | Article |
| Language: | English |
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Asian Academy of Management (AAM)
2001
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| Online Access: | http://eprints.usm.my/35472/1/6-1-6.pdf |
| _version_ | 1797009434220691456 |
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| author | Smyth, Russell |
| author_facet | Smyth, Russell |
| author_sort | Smyth, Russell |
| collection | USM |
| description | Collective township and village enterprises (CTVEs) have been the driving force
behind China’s high rate of economic growth over a sustained period. The
objective of this article is to offer one possible explanation for the emergence of
new governance structures in China’s CTVE sector. The article begins by
examining three specific aspects of the development of CTVEs; namely, their
history, financing arrangements and changing corporate governance arrangements.
After this review, it is then argued that local governments have adopted indirect
forms of governance over CTVEs in response to increasing monitoring costs as
firms have grown in size, while retaining direct control over the most profitable
firms. However, as local governments still control most of the more successful
CTVEs, as well as the resources on which private firms depend, it would be wrong
to conclude that China's small and medium non-state sector is “ going private” . |
| first_indexed | 2024-03-06T15:05:31Z |
| format | Article |
| id | usm.eprints-35472 |
| institution | Universiti Sains Malaysia |
| language | English |
| last_indexed | 2024-03-06T15:05:31Z |
| publishDate | 2001 |
| publisher | Asian Academy of Management (AAM) |
| record_format | dspace |
| spelling | usm.eprints-354722017-07-10T07:43:48Z http://eprints.usm.my/35472/ Historical Evolution, Financing And The Changing Nature Of Corporate Governance In China’s Collective Township And Village Enterprises Smyth, Russell HD28-70 Management. Industrial Management Collective township and village enterprises (CTVEs) have been the driving force behind China’s high rate of economic growth over a sustained period. The objective of this article is to offer one possible explanation for the emergence of new governance structures in China’s CTVE sector. The article begins by examining three specific aspects of the development of CTVEs; namely, their history, financing arrangements and changing corporate governance arrangements. After this review, it is then argued that local governments have adopted indirect forms of governance over CTVEs in response to increasing monitoring costs as firms have grown in size, while retaining direct control over the most profitable firms. However, as local governments still control most of the more successful CTVEs, as well as the resources on which private firms depend, it would be wrong to conclude that China's small and medium non-state sector is “ going private” . Asian Academy of Management (AAM) 2001 Article PeerReviewed application/pdf en http://eprints.usm.my/35472/1/6-1-6.pdf Smyth, Russell (2001) Historical Evolution, Financing And The Changing Nature Of Corporate Governance In China’s Collective Township And Village Enterprises. Asian Academy of Management Journal (AAMJ), 6 (1). pp. 1-17. ISSN 1394-2603 http://web.usm.my/aamj/6.1.2001/6-1-6.pdf |
| spellingShingle | HD28-70 Management. Industrial Management Smyth, Russell Historical Evolution, Financing And The Changing Nature Of Corporate Governance In China’s Collective Township And Village Enterprises |
| title | Historical Evolution, Financing And The Changing
Nature Of Corporate Governance In China’s Collective
Township And Village Enterprises |
| title_full | Historical Evolution, Financing And The Changing
Nature Of Corporate Governance In China’s Collective
Township And Village Enterprises |
| title_fullStr | Historical Evolution, Financing And The Changing
Nature Of Corporate Governance In China’s Collective
Township And Village Enterprises |
| title_full_unstemmed | Historical Evolution, Financing And The Changing
Nature Of Corporate Governance In China’s Collective
Township And Village Enterprises |
| title_short | Historical Evolution, Financing And The Changing
Nature Of Corporate Governance In China’s Collective
Township And Village Enterprises |
| title_sort | historical evolution financing and the changing nature of corporate governance in china s collective township and village enterprises |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/35472/1/6-1-6.pdf |
| work_keys_str_mv | AT smythrussell historicalevolutionfinancingandthechangingnatureofcorporategovernanceinchinascollectivetownshipandvillageenterprises |