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2 results

  • 3 - Enterprise Reforms since 1978

  • Wendy Leutert, Indiana University, Bloomington
  • Book:
    China's State-Owned Enterprises
    Published online:
    04 December 2024
    Print publication:
    21 November 2024, pp 38-70

  • Summary

    Chapter 3 surveys enterprise reforms in China since the late 1970s to highlight evolving constraints and space for leadership in SOEs. It examines five periods: emergence and decline of “dual track” economic reform (1978–91), establishment of a socialist market economy (1992–94), retrenchment of state ownership in the “commanding heights” (1995–2001), internationalization and consolidation of the state sector (2002–12), and combination of limited economic liberalization with increased political control (2013 to present). Since the late 1970s, SOE leaders have transitioned from managing production to determining how to restructure their firms, managing state-owned capital, and expanding in both domestic and international markets. Although the overall trend has been toward expanded space for leadership, the current Xi Jinping administration has tightened political and commercial control.

  • The Role of Enterprise Principles in Shaping Management Duties at Times of Crisis

  • Irit Mevorach
  • Journal:
    European Business Organization Law Review (EBOR) / Volume 14 / Issue 4 / December 2013
    Published online by Cambridge University Press:
    14 January 2014, pp. 471-496
    Print publication:
    December 2013

  • The enterprise group form presents special risks of mismanagement when entities in the group are in financial trouble. At the same time, pursuing a group interest might assist in resolving the financial difficulties. In any event, delineating rules for this situation is challenging, given the variety of group structures and the potential erosion of the benefit of limited liability when the regulation targets the whole group. The conflict is between ‘entity law’ (which addresses each group entity separately) and ‘enterprise principles’ (addressing the group as a whole). There is scope for crafting the ‘wrongful trading’ provision, now being adopted as an international standard, to accommodate the group scenario. In this context, enterprise principles should function only to help ascertain the commercial reality, rather than to override entity law.