Chinese Corporate Governance: History and Institutional Framework

A very worthwhile RAND pdf book on a surprisingly under-discussed topic. Here we are, three decades into reforming and opening, with sustained high levels of foreign direct investment in Chinese enterprises, a growing cohort of Chinese companies listing on global stock exchanges, and we still are not probing the latent issues in corporate governance in Chinese companies.

That oversight will come back to bite investors at some point, and will have effects that reach far beyond Wall Street. One need only look at the recent food quality scandals and the way they were handled to see why.

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