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Banking Reform In The Chinese Mirror, Katharina Pistor
Banking Reform In The Chinese Mirror, Katharina Pistor
Faculty Scholarship
This paper analyzes the transactions that led to the partial privatization of China’s three largest banks in 2005-06. It suggests that these transactions were structured to allow for inter-organizational learning under conditions of uncertainty. For the involved foreign investors, participation in large financial intermediaries of central importance to the Chinese economy gave them the opportunity to learn about financial governance in China. For the Chinese banks partnering with more than one foreign investor, their participation allowed them to benefit from the input by different players in the global financial market place and to learn from the range of technical and …
The Impact Of Sovereign Wealth Funds On The Regulation Of Foreign Direct Investment In Strategic Industries: A Comparative View, Maya Steinitz, Michael Ingrassia
The Impact Of Sovereign Wealth Funds On The Regulation Of Foreign Direct Investment In Strategic Industries: A Comparative View, Maya Steinitz, Michael Ingrassia
Faculty Scholarship
Investments by sovereign wealth funds ('SWFs') - pools of capital accumulated by and under the control of sovereign states, mostly from the Persian Gulf and East Asia - in European and North American companies have changed dramatically both in scope and in nature in the last few years. In terms of scope, SWFs are estimated to currently control USD$2-3 trillion in assets - more than all hedge funds and private equity funds combined - and within the next five years, they are expected to direct USD$6-10 trillion in assets.' In terms of the nature of the investments made, these funds …