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Record Nr. |
UNINA9910816076603321 |
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Titolo |
The political economy of Chinese finance / / edited by J. Jay Choi, Michael R. Powers, Xiaotian Tina Zhang |
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Pubbl/distr/stampa |
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United Kingdom : , : Emerald, , 2016 |
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ISBN |
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Edizione |
[First edition.] |
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Descrizione fisica |
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1 online resource (424 p.) |
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Collana |
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International finance review, , 1569-3767 ; ; v. 17 |
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Altri autori (Persone) |
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ChoiJongmoo Jay <1945-> |
PowersMichael R |
ZhangXiaotian Tina |
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Disciplina |
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Soggetti |
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Business & Economics - Finance |
Finance - China |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Front Cover; The Political Economy of Chinese Finance; Copyright Page; Contents; List of Contributors; Part I: An Overview and Conceptual Foundations; Market Socialism with "Chinese Characteristics"; Introduction; Timeline of China's Economic Reform; Confucianism, Socialism, and SOEs; Forthcoming Papers; Notes; The Metaphysical Foundations of Political Economy in China and the West; Introduction; Political Economy; The Phenomenology of Political Economy; The Concept of Political Economy; Metaphysics; An Historical Perspective on the Concept of 'Metaphysics'; Heidegger's Concept of Metaphysics |
Heidegger's Metaphysical ErasWestern Metaphysics; Confucian Metaphysics; Conclusion; References; Part II: State and Corporate Governance; A State-Stewardship View on Executive Compensation; Introduction; Institutional Background; Privatization and the Split-Share Structure Reform; Corporate Governance Structure and Executive Compensation Structure; A State-Stewardship View; Hypothesis; State Control and Gray Income; Value Maximization: Agents versus State's Stewards; Political Connections and Managerial Backgrounds; Internal Governance and Symbolic Management |
Local and National Political GoalsData and Methodology; Data; Methodology; Results and Discussion; Benchmark Results; SOEs versus Private Firms; The Regional Analysis; Robustness Checks; Results from |
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Alternative Panel Data Models; Pay and Performance Revisited: Instrumental Variable Strategy; Generalizability and Alternative Explanations; Conclusion; Notes; Acknowledgments; References; Netizens and Private Monitoring in Chinese Banking; Information and Private Monitoring in Chinese Banking; Relationship and Transactional Banking Models in Chinese Banking |
Pathologies in Chinese Relationship and Transactional BankingPersonal Relationships between Senior Bankers and SOE Senior Managers; A Simple Argument for Better Chinese Banking Governance; Final Thoughts; Notes; References; Appendix; CEO Promotion, Relative Performance Measures, and Institutions in an Emerging Market: Evidence from China's Listed State-Owned Enterprise; Introduction; Background and Hypothesis; Incentive Schemes in China's SOEs; The Relative Performance Measure as Explicit Incentive in China's SOEs; Variables and Models; Incentive Schemes in China's SOEs; Promotion |
Entering GovernmentRotation; Demotion; Imprisonment; Other Honorary Positions; Relative Performance Evaluation (RPE); Other Factors; Data and Sample; Data; Sample Description; Results; Association between Incentive Schemes and Prior Firm Performance; Incentive Schemes and Subsequent Firm Performance; Univariate Tests; Regression Results; Conclusion; Notes; Acknowledgments; References; Appendix: The Characteristics of Chinese Bureaucratic Layers (Source: Chinese Government Yearbooks); County Level; Municipal Level; Provincial Level; Central Level |
Part III: Control and Ownership in the Corporate Sector |
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Sommario/riassunto |
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Volume 17 of International Finance Review focuses on a variety of issues relating to the political economy of Chinese finance, including: the pattern of government ownership and control of Chinese firms; the role of government in corporate governance of industrial and financial firms; the interaction of culture, law and institutions in Chinese governance systems; corporate social responsibility, stakeholders and sustainable growth; the effect of political connections on corporate performance and society; privatization, IPOs, exchange listing and firm valuation; the role of government in banking and financial markets; practice of corporate risk management and insurance; foreign-exchange policy and its effect on firms and markets; foreign direct and portfolio investments in China; international investments and operations of Chinese firms; Chinese economic relations with the US and other countries. |
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