State capitalism and social resonsibility in China's banking industry

Yang, H. and Kakabadse, N. K. (2011) State capitalism and social resonsibility in China's banking industry. Seminar Presentation presented to: European Academy of Business in Society (EABIS) 10th Annual Colloquium, INSEAD Europe Campus, Fountainebleau, France, 26-28 October 2011. (Unpublished)

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Item Type:	Conference or Workshop Item (Seminar Presentation)
Abstract:	This paper reviews the impact of the global financial crisis on financial system reform in China. Scholars and practitioners have critically questioned the efficiencies of the Anglo-American principal-agent model of corporate governance which promotes shareholder-value maximisation. Should China continue to follow the UK-US path in relation to financial reform? This conceptual paper provides an insightful review of the corporate governance literature, regulatory reports and news articles from the financial press. After examining the fundamental limitations of the laissez-faire philosophy that underpins the neo-liberal model of capitalism, the paper considers the risks in opening up China’s financial markets and relaxing monetary and fiscal policies. The paper outlines a critique of shareholder-capitalism in relation to the German team-production model of corporate governance, promoting a “social market economy” styled capitalism. Through such analysis, the paper explores numerous implications for China to consider in terms of developing a new and sustainable corporate governance model. China needs to follow its own financial reform through understanding its particular economy. The global financial crisis might help China rethink the nature of corporate governance, identify its weakness and assess the current reform agenda
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD60 Social responsibility of business H Social Sciences > HG Finance > HG1501 Banking H Social Sciences > HC Economic History and Conditions > HC94 By region or country > HC427.95 China H Social Sciences > HD Industries. Land use. Labor > HD2709 Corporations > HD2741 Corporate governance
Creators:	Yang, Hong and Kakabadse, Nada K
Faculties, Divisions and Institutes:	University Faculties, Divisions and Research Centres - OLD > Faculty of Business & Law > Human Resource Management & Organisational Behaviour Faculties > Faculty of Business & Law > Human Resource Management & Organisational Behaviour
Date:	26 October 2011
Date Type:	Presentation
Event Title:	European Academy of Business in Society (EABIS) 10th Annual Colloquium
Event Dates:	26-28 October 2011
Event Location:	INSEAD Europe Campus, Fountainebleau, France
Event Type:	Conference
Language:	English
Status:	Unpublished
URI:	http://nectar.northampton.ac.uk/id/eprint/3786

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