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Western Bankers in China, Institutional Change and Corporate Governance

Western Bankers in China, Institutional Change and Corporate Governance
Bibliography note
Includes bibliographical references and index
no index present
Literary Form
non fiction
Main title
Western Bankers in China
electronic resource
Nature of contents
Oclc number
Series statement
Routledge contemporary China series
Sub title
Institutional Change and Corporate Governance
When China's economic reforms were beginning, there was an expectation in the west that China's financial markets would be opened to western banks and that China's banks would be reformed along western lines. Joint ventures between Chinese banks and western banks, minority shareholding by western banks and the involvement of western banking personnel in assisting Chinese banks with their reforms were all seen as moves towards reform along western lines. This book analyses the role which western bankers have played in China's economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the motivation for these changes seems to have been legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, informal organisational practices are changing at a much slower pace. Alliances between Chinese and western banks are woven with contradictions and power games and so many actors in the Chinese banking sector seek to resist manipulation by their western counterparts. The financial crisis weakened the idea that western banks are a universally correct model and strengthened China's resolve to keep control of its banking sector and manage it along Chinese lines
Table Of Contents
Cover; Half Title; Title Page; Copyright Page; Dedication; Table of Contents; List of tables; Acknowledgements; Glossary; List of abbreviations; 1. Introduction: Western bankers in China; Setting the scene; A comparative business systems approach; A study of the Chinese banking sector; An outline of the book; 2. Understanding institutional and organizational change in Chinese contexts; Cultural values and capitalist development; Convergence and divergence in material and ideational factors; Institutional analyses of Chinese economy and managementConceptions of power in organizational and institutional analysisConclusion; 3. The variety of business systems in China's banking sector; The Chinese banking sector; Understanding business systems in China's banking sector; Conclusion; 4. Western economic ideas and the historical development of Chinese banks; The expansion and dominance of foreign banks in China 1840-1949; The exclusion of foreign banks and the establishment of the monobank: 1949-1978; Post-1978: reform without losers?; The stock problem, the flow problem and the re-entry of foreign banks; Critics of foreign ownershipPower and politics in the multiple histories of Western banks in ChinaConclusion; 5. Regulating the banking sector: conflict and control in enforcement regimes; The development of banking regulation in China; Economic nationalism in the regulatory field; Post-crisis banking regulation; Organized interests and the development of banking regulations in China; Conclusion; 6. Western investors and corporate governance reforms in Chinese banks; Defining corporate governance; The evolution of corporate governance in China; The system in practiceImplications for the Chinese model of corporate governanceConclusion; 7. Networking strategies of Western bankers: power, opportunism and guanxi connections; Current approaches to the study of guanxi networks; The 'problem' of institutional change; Relationship hires in Western investment banks; Good guanxi/bad guanxi; Long-termism and commitment; Opportunists, ambiguous preferences and 'bending the rules'; Discussion; Conclusions; 8. The 2008 financial crisis and trust relationships between Chinese and Western bankers; Trust relationships in ChinaThe reputation of Western banks prior to the 2008 financial crisisThe 'New Left' perspective: financial security and economic colonization; Cheating, tricking and lack of respect; Practices used in low-trust interactions; The 2008 financial crisis: damage to the esteem and reputation of Western banks; Irrelevant and no longer needed: the IPO of the Agricultural Bank of China; Conclusion; 9. Conclusions and implications; Summing up the; Implications of the study; Concluding remarks; Methodological appendix; Section 1: Research strategy
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