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Corporate Governance in China: Research and Evaluation

Book Description

Great progress has been achieved for the structural reform in China enterprises for the past one and a half decades. Along with the reform, the corporate governance structure has been established accordingly. The Chinese Corporate Governance Index (CCGI?NK) is a useful tool to objectively observe and analyze shareholder behavior, board execution, management incentive and restriction, supervisory committee operation, information disclosure and stakeholders' interest protection, and is helpful in diagnosing issues that may arise during corporate operations. The CCGI?NK provides guidance for improvement of corporate governance, and can be used to enhance the sustainable development of corporations.--Chen Qing-Tai, Vice Director, Economic Committee, National Committee of Chinese People's Political Consultative Conference (CPPCC), Former Vice Director of Development and Research Center of the State Council Dean, Public Administration School of Tsinghua University

The phenomenal growth of China's capital markets during the past decade belies the fact that Chinese companies have only gradually adopted modern corporate governance structures. Professor Li's book offers a candid and timely assessment of the quality of the governance mechanisms they employ including the factors that influence their quality and how they relate to subsequent corporate performance. A proper understanding is critical for global investors with an interest in China's markets and for scholars who seek to disentangle corporate governance theory and practice in a fascinating market place. --G. Andrew Karolyi, Charles R. Webb Professor of Finance The Ohio State University

Corporate governance is a vital issue that China listing companies and enterprises has to deal with. This book reports an important investigation on the subject of corporate governance. As a major result of the study, a series of governance indices conforming to China's situation were proposed in the book. The author of the book hence received the Award of Outstanding Contribution in Chinese Enterprise Management, and I was very pleased to preside the ceremony to present him with this prestigious award. --Cheng Si-Wei, Vice Chairman of the Standing Committee of National People's Congress, Vice President of Fudan Management Award Foundation

Corporate governance issues are important around the world. The ability of a firm to raise capital, to align with partners, and ultimately, to sell products and services to customers, all depend, to some extent, on the quality of corporate governance. This is why the research reported here is so important. That it focuses on corporate governance among Chinese corporations makes it all the more important. With only a limited history of publicly-traded firms, Chinese firms are inventing--right now--the kinds of corporate governance they will need to compete in global markets. It is hard to imagine a more timely research endeavor. --Jay B. Barney, Professor and Chase Chair for Excellence in Corporate Strategy, The Ohio Stae University

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Contents
  5. Abstract
  6. Preface
  7. Acknowledgments
  8. The Framework of Corporate Governance Research
  9. Chapter 1: The Design of a Corporate Governance Evaluation System
    1. The rationale of corporate governance evaluation
    2. Research into corporate governance evaluation
    3. The rise of corporate governance evaluation systems in China
    4. The content of a corporate governance evaluation system
    5. Corporate governance evaluation criteria and the significance rating of evaluation index
    6. Summary
  10. Chapter 2: Research and Application of the Evaluation System of Corporate Governance
    1. Corporate governance of Chinese listed companies
    2. Conclusion
  11. Chapter 3: Research on Evaluation and Index of the Controlling Shareholders' Behavior
    1. Conclusions
  12. Chapter 4: Research on Evaluation and Index of Directorates Governance
    1. Literature review on evaluation of directorates governance
    2. Evaluation index of directorates governance of Chinese listed companies
    3. Descriptive statistics of directorates governance of Chinese listed companies
    4. Empirical research on the relationship between directorates governance and corporate performance
    5. Conclusions and policy suggestions
  13. Chapter 5: Research on Evaluation and Index of Supervisors' Committee Governance
    1. Review of evaluation of supervisors' committee governance
    2. Evaluation index of supervisors' committee governance of Chinese listed companies
    3. Descriptive statistics of supervisors' committee governance of Chinese listed companies
    4. Empirical research on the relationship between supervisors' committee governance and company performance
    5. Conclusions and policy suggestions
  14. Chapter 6: Research on Evaluation and Index of Top Management Governance
    1. Practices on evaluation of top management governance at home and abroad
    2. Evaluation index of top management governance
    3. Descriptive statistics of top management governance of Chinese listed companies
    4. Empirical research on the relationship between top management governance and company performances
    5. Regression analysis between index of top management governance and corporate governance
    6. Conclusions and policy suggestions
  15. Chapter 7: Research on Evaluation and Index of Information Disclosure
    1. Review of evaluation of information disclosure
    2. The index of information disclosure
    3. Descriptive statistics of information disclosure of Chinese listed companies
    4. Empirical research on the relationships between information disclosure, company performance and corporate governance
    5. Conclusions and suggestions
  16. Chapter 8: The Appraisal and Index Research of Stakeholder Governance: Evidence from China's Listed Companies
    1. The index of stakeholder governance
    2. Data and statistical descriptions
    3. The empirical research of stakeholder governance index
    4. Conclusions and implications
  17. Chapter 9: Research on Evaluation and Index of Private-oriented Listed Enterprise Governance
    1. Literature review on governance of private enterprises
    2. Research on governance evaluation and index of private enterprises
    3. Analysis on governance evaluation of Chinese private-oriented listed enterprises
  18. References
  19. Index