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Corporate Governance and the Challenges of Economic Transition: The Case of Shanghai Petrochemical Company

Tobin, Damian (2005) 'Corporate Governance and the Challenges of Economic Transition: The Case of Shanghai Petrochemical Company.' Asian Case Research Journal, 9 (1). pp. 117-144.

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Abstract

A case study of Shanghai Petrochemical Company (SPC) is used to analyse how economic reforms in China have impacted on corporate governance and enterprise performance. Reforms have increased the level of competition and altered the corporate structure of large state enterprises such as SPC. The case examines how SPC’s management have responded to the opportunities and challenges created by the reform process. The case study indicates that despite changes in corporate structure, property rights remain unclear resulting in a weakened corporate governance structure. Enterprise management have responded in an innovative way to the challenges of a more competitive product markets. Improvements in governance and performance are largely a result of market-oriented reform. However weak property rights and a failure to integrate ownership and market reforms more effectively have lessened the ability of SPC’s management to fully exploit new business opportunities. The findings thus illustrate how a more integrated approach to enterprise reform is necessary for enterprises to benefit fully from the reform process.

Item Type: Articles
SOAS Departments & Centres: Faculty of Law and Social Sciences > Department of Financial and Management Studies
ISSN: 02189275
DOI (Digital Object Identifier): 10.1142/S0218927505000575
Depositing User: Damien Tobin
Date Deposited: 09 Oct 2008 15:34
URI: http://eprints.soas.ac.uk/id/eprint/5573

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