Zhigang Zheng is Professor of Finance at Renmin University of China. His research focuses on corporate governance and SOE reform in China, and he serves as a member of advisory boards in the field.
A critical reviews on state-owned enterprise (SOE) reforms and enterprise governance in China, including the challenge, quandary and outlook
Combines both theorectical and empirical discussions on China's SOE mixed-ownership reform
The Chinese version is a prize winning title, giving insights into China's enterprise reform and development
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In reviewing the new round of state-owned enterprise (SOE) reforms characterized by mixed ownership since 2013 in China, this book systematically investigates the theoretical underpinnings, model options and approaches to implementation of SOE mixed-ownership reforms.
SOE reforms have functioned as an integral part of China´s transformation to a market-oriented economy. Responding to the changing economic context and negative repercussions of earlier SOE reforms launched in the late 1990s, SOE mixed-ownership reforms encourage the participation of different types of capital and sounder management mechanisms. The author first reviews the impetus behind SOE mixed-ownership reforms and discusses how modern property rights theory and decentralized control theory perform as the theoretical underpinnings of the reforms. Based on cases of many completed SOE mixed-ownership reforms, the book summarizes and assesses the feasible models and implementation details of the reforms. It also examines how the reforms have impacted state-owned assets as well as executives´ compensation and incentives, both of which run parallel to the core reforms surrounding ownership.
The book will appeal to professional readers studying entrepreneurial theory, corporate governance, China´s SOE reforms and Chinese business and the economy, as well as investors and policy makers interested in the Chinese market and Chinese enterprise reform.
Introduction: Why Must SOEs Be Reformed?, 1. Problems with the Insider Control in the Chinese SOEs Under Pyramidal Holding Structure, 2. Theoretical Basis of SOE Mixed-Ownership Reform, 3. The Models of SOE Mixed-Ownership Reform, 4. Routes to Realizing SOE Mixed-Ownership Reform, 5. Reform of the State-Owned Assets Management System, 6. Reform of Executive Compensation and Incentive System in SOEs, 7. Outlook for SOE Mixed-Ownership Reform
In reviewing the new round of state-owned enterprise (SOE) reforms characterized by mixed-ownership since 2013 in China, this title systematically investigates the theoretical underpinnings, model options and approaches to implementation of SOE mixed-ownership reforms.
Klappentext
In reviewing the new round of state-owned enterprise (SOE) reforms characterized by mixed-ownership since 2013 in China, this title systematically investigates the theoretical underpinnings, model options and approaches to implementation of SOE mixed-ownership reforms.
