Title:
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Global Corporate Governance Convergence- the choice of UK as a relevant reference for corporate governance study in China
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My thesis aims to address issues of corporate governance development in
China at a time when its economy is undergoing major transitional and structural
changes, and, it is arguable, at a time when China's economic transformation is
having an impact on the global economy. Mainly through examining the historical
determinants and evolution of corporate governance structure in the United Kingdom
and China, it seeks to offer meaningful insights on how China can design an effective
corporate governance system - which China intends to model on the Anglo-
American market-oriented system - to work in China's unique environment.
Particularly, the Chinese government wants the benefits of market economies and
through structural arrangement in China the State will continue to playa leading role
over its national economy. Furthermore, this thesis looks into the global trend of
corporate governance convergence and explores the inspirations that China could
draw from it, as well as China's potential contribution.
Just as scholars and policy-makers now regularly look into China's successful
economic reform for ideas and answers, its corporate governance transformation will
be a very useful case study for the world. Such a study can provide valuable insights
for global corporate governance convergence from two aspects. First, it offers clues
on how to engineer a corporate governance system which can balance government
regulation and market efficiency, social accountability and economic prosperity for a
long term. Second, China wants to develop a market-oriented corporate governance
system, modelled on the Anglo-American one to sustain its economy success.
However, the government hopes to do this through a unique structure arrangement in
its economy with the purpose to retain its control over the national economy. This
provides a valuable reference for many developing countries who wants to develop
its economy system by combining market economy with restrained government
intervention. In short, the thesis focuses on searching for a balance of co-regulation
between governmental intervention and market's self-regulation.
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