The Theory of the Firm and Chinese Enterprise Reform: The Case of China International Trust and Investment CorporationRoutledge, 2019 M01 22 - 224 pages 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, Xiao questions the conventional theory of the firm, arguing that the ultimate goal of the headquarters of modern large corporations is to function as a substitute 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. |
Contents
| 11 | |
The establishment of the substitution function model | 44 |
a case study | 92 |
Conclusion | 135 |
Notes | 159 |
Other editions - View all
The Theory of the Firm and Chinese Enterprise Reform: The Case of China ... Qin Xiao Limited preview - 2004 |
The Theory of the Firm and Chinese Enterprise Reform: The Case of China ... Xiao Qin No preview available - 2014 |
Common terms and phrases
According accounting achieve activities adopted analysis arrangements assets Bank basic become behavior benefit budget business activities business plan capital centralized changes China Chinese CITIC company's competitive concept contract coordination core corporate corporate strategy crisis culture decision-making direction discussed distribution economic efficiency emergence enterprise environment established existing expansion factors firm functional departments funds growth hand headquarters hierarchical human resources implementation important improve increased independent industries institutional integration interest internal investment issue large companies large corporations M-form mainly major management system means mechanism ment modern large namely nature objectives operating organization organizational structure overall performance policies practice problems procedures production profit reduce reform regulations relation relationship represents resource allocation responsible result risk specificity strategy subordinate subsidiaries substitution function theory tion transaction cost units variables