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The Theory of the Firm and Chinese Enterprise Reform

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The Theory of the Firm and Chinese Enterprise Reform Cover

 

Synopses & Reviews

Publisher Comments:

Changes to corporate structure, including the role of the corporate headquarters, have been key factors in bringing about economic reform in China. In this penetrating and insightful book, Dr Qin Xiao, inspired by the new institutional economists and his personal experience as president of CITIC, a well-known Chinese large business group, questions the conventional theory of the firm, arguing that the ultimate goal of the headquarters of modern large corporations is to function as a substitution for the market, and introducing a new explanation for the nature of the firm - the 'substitution function model'. He provides an insider's account of the reforms in CITIC, a rare narrative that should be essential reading for scholars and practitioners who care about the theory and practice of the firm, in particular in the context of Chinese enterprise reform.

Book News Annotation:

The author analyzes and questions the western theory of the firm through the perspective of his own efforts to restructure the China International Trust and Investment Corporation during the time he was chairman. He reviews the modern theory of the firm and describes his own ideas about how the large modern firm substitutes for markets by internalizing transactions and reducing transaction costs. The governing of this substitution function is described as a primary purpose of corporate headquarters in relation to risk control. He recounts the application of these ideas in the case of reforms undertaken at CITIC. Distributed in the US by Taylor & Francis.
Annotation 2004 Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN:
9780415336550
Author:
Xiao, Qin
Publisher:
Routledge/Curzon
Location:
New York, NY
Subject:
Management
Subject:
Industrial organization
Subject:
Corporations
Subject:
Asia - China
Subject:
Infrastructure
Subject:
Organizational effectiveness
Subject:
Corporate governance
Subject:
Development banks
Subject:
business, business plans
Edition Description:
Includes bibliographical references and index.
Series:
RoutledgeCurzon studies on the Chinese economy ;
Series Volume:
320510
Publication Date:
20041031
Binding:
Hardcover
Language:
English
Illustrations:
Y
Pages:
178
Dimensions:
9.26x6.40x.69 in. 1.03 lbs.

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Related Subjects

Business » Business Plans
Business » Human Resource Management
Business » Management
History and Social Science » Sociology » General
History and Social Science » World History » China

The Theory of the Firm and Chinese Enterprise Reform New Hardcover
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