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Six understandings of corporate governance structure in the context of China

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  • Weiying Zhang

Abstract

This paper discusses six misunderstandings about corporate governance in the context of China, particularly about the relationships between ownership and governance, between entrepreneurship and incentive, and between regulation and reputation. These misunderstandings exist not just in theoretical circles, but also in practice. The common characteristic of these misunderstandings is the distrust in the market mechanism and the neglect for the entrepreneurial spirit. Such distrust and neglect can be partly attributed to the misunderstanding of the market by the mainstream economic theories that do not take the entrepreneurs into consideration in their models. In order to have a more complete understanding of the market and corporate governance, we must transition from a manager-centered model towards an entrepreneur-centered model. We discuss the implications of this approach for public policy-making.

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  • Weiying Zhang, 2018. "Six understandings of corporate governance structure in the context of China," The European Journal of Finance, Taylor & Francis Journals, vol. 24(16), pages 1375-1387, November.
    • Handle: RePEc:taf:eurjfi:v:24:y:2018:i:16:p:1375-1387
    DOI: 10.1080/1351847X.2015.1113194
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    Cited by:

    1. Yang, Lisi & Liu, Linqing & Yan, Kai & Cai, Chunhua & Geng, Yannan, 2023. "“Carrot and stick”: Green fiscal policy, upper echelons expertise, and the green mergers and acquisitions," Finance Research Letters, Elsevier, vol. 58(PD).
    2. Yunhe Li & Faqin Lan, 2021. "The determinants of adjustment speed of board structure: evidence from Chinese listed companies," Review of Managerial Science, Springer, vol. 15(3), pages 725-753, April.

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