Under New Ownership: Privatizing China's State-owned EnterprisesWorld Bank Publications, 2006 - 284 páginas Although China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned en. |
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Página iv
... Corporate Governance 234 Innovation Policy 236 Conclusion 237 References 241 Index 265 About the Authors 283 Figures 1.1 Misallocation of Capital 17 2.1 Chinese Industry Output Shares by Ownership Type, 1978–97 60 2.2 Increases in ...
... Corporate Governance 234 Innovation Policy 236 Conclusion 237 References 241 Index 265 About the Authors 283 Figures 1.1 Misallocation of Capital 17 2.1 Chinese Industry Output Shares by Ownership Type, 1978–97 60 2.2 Increases in ...
Página viii
... corporate and public governance, the legal system, tertiary education, and finance. They also presented an array of policy options of value to East Asian economies. Some, if not all, of these issues are relevant to every country in East ...
... corporate and public governance, the legal system, tertiary education, and finance. They also presented an array of policy options of value to East Asian economies. Some, if not all, of these issues are relevant to every country in East ...
Página 21
... governance institutions. The significance of good corporate governance is reflected in the stock market premium enjoyed by firms that are viewed as being more accountable to shareholders. Firms such as General Electric (GE) and ...
... governance institutions. The significance of good corporate governance is reflected in the stock market premium enjoyed by firms that are viewed as being more accountable to shareholders. Firms such as General Electric (GE) and ...
Página 22
... corporate sea (“China Struggles” 2002). The purpose of this volume is not to ... governance, the legal system, property rights of minority shareholders, and ... company's management defines strategy anchored to a business model describing ...
... corporate sea (“China Struggles” 2002). The purpose of this volume is not to ... governance, the legal system, property rights of minority shareholders, and ... company's management defines strategy anchored to a business model describing ...
Página 36
... company creates value for its customers: through what it buys, and not just the price it pays, through gains in ... corporate governance. New management recipes are constantly being recommended, and too many of these have been found ...
... company creates value for its customers: through what it buys, and not just the price it pays, through gains in ... corporate governance. New management recipes are constantly being recommended, and too many of these have been found ...
Otras ediciones - Ver todas
Under New Ownership: Privatizing China's State-owned Enterprises Shahid Yusuf,Kaoru Nabeshima Vista de fragmentos - 2006 |
Under New Ownership: Privatizing China's State-owned Enterprises Shahid Yusuf,Kaoru Nabeshima,Dwight Heald Perkins Vista de fragmentos - 2006 |
Términos y frases comunes
added assets Authors banks Beijing better board of directors budget Bureau capital central changes chapter China Chinese cities collective companies compared competition constraints continued contracts corporate costs countries create decisions direct discussion domestic East Economic effect efficiency efforts Electronic enterprises estimates evidence factor findings firms foreign gains global groups growth important improve incentives increase indicate industrial initial innovation institutions investment joint ventures labor lead less limited major managers manufacturing measures mergers million Model Note operating organization output ownership percent performance period political positive Press privatization productivity profits reformed SOEs remained restructuring role rules sample sector selection Shanghai share shareholders shows significant Source state-owned enterprises Statistics strategy structure survey Table trade transition types United University variables vehicle workers World
Pasajes populares
Página 57 - The irrational system of pricing is closely related to the irrational system of price control. In readjusting prices, we must reform the over-centralized system of price control, gradually reducing the scope of uniform prices set by the state and appropriately enlarging the scope of floating prices within certain limits and of free prices.
Página 57 - ... cultural development of its various regions and we must realize that because of China's rather undeveloped commodity production at the present stage, it is necessary to stimulate commodity production and exchange. In view of all this, it is all the more urgent for us to institute this planning system. If the actual conditions of our country are ignored and if we try to incorporate all economic activities into the plans and implement them by administrative orders alone in disregard of the importance...
Página 57 - ... the superiority of a socialist economy over a capitalist economy. Since the founding of the People's Republic, we have practised a planned economy and concentrated vast financial, material and human resources on large-scale socialist economic construction with tremendous achievements to our credit. At the same time, historical experience shows that the socialist planning system should be one that combines uniformity and flexibility.
Página 57 - Socialist society practises a planned economy on the basis of public ownership of the means of production. It can thus avoid the anarchy of production and cyclical crises characteristic of capitalist society and ensure that production constantly meets the growing material and cultural needs of the people.
Página 241 - Anderson, James H., Young Lee, and Peter Murrell, 2000, "Competition and Privatization Amidst Weak Institutions: Evidence from Mongolia,
Página 149 - ... profitability and productivity of Chinese industrial firms. Several methodological issues concerning profit measurements of enterprises under different ownership structures are identified and discussed. Test results based on a panel data set provide evidence that capital structures, taxes and welfare burdens have a significant effect on the financial performance of Chinese enterprises. After adjusting for these effects, state-owned enterprises still show poor financial performance, which is attributable...
Página 57 - ... economy. Therefore, reform of the price system is the key to reform of the entire economic structure. Our present irrational price system finds expression mainly in the following : inadequate price differentials for a given product with diverse quality : irrational price ratios between different commodities, particularly the relatively low prices for some mineral products and raw and semi-finished materials ; and the retail price of major farm and sideline products being lower than their state...
Página 136 - Finds privatization alone added nearly 10 percentage points to the revenue growth of a firm sold to outside owners. Most important, finds that the threat of hard budget constraints for poorly performing SOEs falters, since governments are unwilling to allow these firms to fail. The brunt of the lower creditworthiness of SOEs falls on state creditors.
Página 67 - In China's economic growth, we shall persist in taking public ownership as the main body and developing diverse economic sectors, bringing into play the beneficial and necessary supplementary role of the individual economy, the private economy, Chinese-foreign joint ventures, co-operative enterprises and foreign-owned enterprises.
Página 284 - DWIGHT H. PERKINS is the Harold Hitchings Burbank Professor of Political Economy at Harvard University.