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Full-Text Articles in Law
Corporate Governance In China: An Overview, Donald C. Clarke
Corporate Governance In China: An Overview, Donald C. Clarke
GW Law Faculty Publications & Other Works
Corporate governance (gongsi zhili) is a concept whose time seems definitely to have come in China. Chinese definitions of corporate governance in the abstract tend to cover the system regulating relationships among all parties with interests in a business organization, usually spelling out shareholders as a particularly important group (e.g., Liu, 1999; Yin, 1999). But Chinese corporate governance discourse in practice focuses almost exclusively on agency problems and within only two types of firms: state-owned enterprises (SOEs), particularly after their transformation into one of the corporate forms provided for under the Company Law,1 and listed companies, which must be companies …
Economic Development And The Rights Hypothesis: The China Problem, Donald C. Clarke
Economic Development And The Rights Hypothesis: The China Problem, Donald C. Clarke
GW Law Faculty Publications & Other Works
An important school of thought in institutional economics (the "Rights Hypothesis") holds that economic growth requires a legal order offering stable and predictable rights of property and contract because the absence of such rights discourages investment and specialization. Without the security of expectations offered by such a legal order, according to the Rights Hypothesis, the risks of a great number of otherwise beneficial transactions far outweigh their expected return, and as a result such transactions simply do not occur. Society is mired in an economy of short-term deals between actors bound by non-legal ties such as family solidarity which by …
Puzzling Observations In Chinese Law: When Is A Riddle Just A Mistake?, Donald C. Clarke
Puzzling Observations In Chinese Law: When Is A Riddle Just A Mistake?, Donald C. Clarke
GW Law Faculty Publications & Other Works
Understanding the Chinese legal system is not simple because it is (probably) very different from a Western one. The understanding of the Chinese legal system that results from any study will depend crucially on the selection of a paradigm with which to define what counts as an observation and against which to measure and assess the observations, either descriptively or normatively. This is not to say that the selection of a paradigm will make the difference between understanding and not understanding. It will, however, make a difference between understanding in one way and understanding in another way. Whether one of …