By Hailan Yang, Stephen Morgan, Ying Wang
This e-book goals to research how China’s corporations within the customer electronics (CE) zone have built their company procedure and company governance throughout the reform strategy. This e-book examines the CE region specifically since it is without doubt one of the country’s most vital and dynamic production sectors and one of many earliest market-oriented sectors.
- focuses on organizations with diversified ownership
- provides situations that supply insights into the interactions between key elements of environmental adjustments, exploitative and explorative innovations, and function in a transition environment
- explains why the thoughts of a few agencies don't healthy with their environments, which ends up in their poorer aggressive position.
- compares the company governance of the China’s organizations with varied ownership
- explores the several methods of improvement of China’s organizations within the client electronics quarter from the views of commercial approach and company governance
- includes a few wider policy-related implications relating to the reform of China’s firms
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Additional info for The strategies of China's firms : resolving dilemmas
Thus, the ownership structure of parent business groups contributed to the performance of group-affiliated firms. Empirical studies in developed countries show that other things being equal, the more control there is over affiliated firms, the worse their financial performance is. When a parent company has dominant ownership, it gains respective voting rights in the company’s board and therefore could influence the latter’s decision. A parent company, as the dominant owner, could use these control rights to leverage a large amount of assets by investing in a small fraction of ownership in others to achieve its objectives or interest.
Unlike their Western counterparts, whose ownership structure is decided by the capital input, Chinese business groups were formed in a distinctive governance style; that is, parent companies hold a majority of equity stake and absolute control in an affiliate. The governance structure of affiliated firms performs no function since it is unable to counterbalance the absolute control of parent companies. In this group system with less check-and-balance power, deviation of control and residual claims lead to expanding ultimate shareholders’ preference of control benefits, which creates negative externalities and allocate resources inefficiently.
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