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1 | (16) |
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1.1 The Chinese State and Economic Growth |
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1 | (2) |
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1.2 State Enterprises as Central Institutions |
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3 | (2) |
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1.3 Why Study State Enterprises? |
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5 | (1) |
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6 | (2) |
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1.5 Discourse Methodology |
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8 | (2) |
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1.6 Structure of This Book |
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10 | (7) |
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15 | (2) |
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2 China's State Enterprises---Theories and Evidence |
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17 | (26) |
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17 | (2) |
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2.2 Mainstream Theories on Public Enterprises |
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19 | (3) |
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19 | (1) |
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2.2.2 Property Rights Theory |
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20 | (1) |
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2.2.3 Public Choice Theory |
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21 | (1) |
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21 | (1) |
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2.3 Empirical Studies Supporting Mainstream Theories |
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22 | (6) |
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2.4 In Defense of State Enterprises---Alternative Theories Integrating the Role of the State |
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28 | (4) |
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2.4.1 Minsky's Financial Instability Hypothesis |
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29 | (1) |
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2.4.2 Economic Embeddedness |
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29 | (1) |
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30 | (1) |
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2.4.4 Developmental State |
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31 | (1) |
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2.5 China as a Historical State |
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32 | (2) |
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2.6 Conclusion: A Critique of Existing Mainstream Literature |
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34 | (9) |
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36 | (7) |
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3 State Enterprises, Economic Growth, and Distribution |
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43 | (44) |
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43 | (1) |
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3.2 Understanding State Enterprises---The Chinese State in Historical Context |
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44 | (4) |
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3.3 State Enterprise Reform: A History of Major Transformations |
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48 | (10) |
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3.4 Characterizing China's State Enterprises: Ownership, Governance, and Performance |
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58 | (8) |
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60 | (1) |
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61 | (2) |
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63 | (3) |
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3.5 The State Enterprise Sector and Economic Growth |
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66 | (2) |
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3.6 State Enterprises and Social Protection: Missing in (Research) Action? |
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68 | (5) |
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73 | (14) |
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78 | (9) |
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4 The State's Role in a Strategic Industry---China's Banking Sector |
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87 | (40) |
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87 | (2) |
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4.2 China's Banking Sector---A Historical Perspective |
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89 | (8) |
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4.2.1 The Qing Dynasty and British Economic Power |
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89 | (2) |
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4.2.2 The Establishment of the Bank of China (BOC) |
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91 | (1) |
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4.2.3 The Change of Government After the Qing Dynasty |
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91 | (2) |
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4.2.4 The Establishment of the Central Bank of the Communist Party |
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93 | (1) |
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4.2.5 The Evolution of Chiang's Financial Autocracy |
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94 | (1) |
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4.2.6 The Collapse of Chiang's Financial Autocracy |
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95 | (2) |
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4.3 From Isolation to Banking Reform |
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97 | (6) |
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4.3.1 Dissociation of the Big-Four State Banks from the State, the Emerging Joint-Stock System and Corporate Governance Structure (1979--1997) |
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98 | (1) |
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4.3.2 Further Joint-Stock Reform by Listing (1998 to the Present) |
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99 | (4) |
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4.4 The Current Situation of China's Banking Sector |
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103 | (7) |
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105 | (3) |
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108 | (2) |
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110 | (1) |
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4.5 Answering the Government's Call |
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110 | (7) |
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4.5.1 China's Entry into the WTO |
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113 | (1) |
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4.5.2 Penetrating Global Financial Markets |
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114 | (1) |
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4.5.3 Global Financial Crisis |
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115 | (2) |
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117 | (10) |
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121 | (6) |
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5 China's "Commercial" State Enterprises---A Case Study of ZTE Corporation |
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127 | (24) |
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127 | (1) |
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5.2 Rationales for Choosing ZTE Corporation |
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128 | (1) |
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5.3 ZTE Corporation---A State Enterprise in Transition |
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129 | (4) |
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5.4 Ownership and Control, Governance and Control |
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133 | (6) |
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133 | (4) |
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5.4.2 Corporate Governance |
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137 | (2) |
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5.5 Relations with the State |
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139 | (4) |
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5.6 Corporate Performance |
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143 | (2) |
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145 | (6) |
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148 | (3) |
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6 "Going Out", Going Global, and the Belt and Road |
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151 | (44) |
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6.1 Introduction---From Investment Destination to Investor |
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151 | (3) |
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6.2 "Going Out"---The Decision to Invest Internationally |
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154 | (6) |
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6.2.1 Internationalization and FDI Theories |
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155 | (2) |
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6.2.2 Does Chinese OFDI Fit `These Theories'? |
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157 | (3) |
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6.3 The State, State Enterprises, and "Going Out" |
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160 | (6) |
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6.3.1 State-Level Motives for OFDI |
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161 | (2) |
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6.3.2 Enterprises "Going Out" and Chinese State Priorities |
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163 | (3) |
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6.4 Phases of "Going Out" |
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166 | (2) |
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6.5 State Enterprise Internationalization---Two Case Studies |
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168 | (7) |
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6.5.1 Case 1---Bank of China, a Strategic Enterprise |
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169 | (3) |
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6.5.2 Case 2---ZTE Corporation, a Market-Oriented State Enterprise |
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172 | (3) |
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6.6 The Belt and Road Initiative |
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175 | (9) |
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175 | (3) |
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6.6.2 Substance and Scope |
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178 | (3) |
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6.6.3 The Role of State Enterprises |
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181 | (3) |
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184 | (11) |
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188 | (7) |
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195 | (14) |
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7.1 Prevailing Views of China's State Enterprises |
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195 | (2) |
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7.2 Understanding Chinese State Enterprises |
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197 | (6) |
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7.2.1 Ownership and Governance and the State-Non-State Dichotomy |
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197 | (2) |
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7.2.2 Meeting State Objectives |
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199 | (2) |
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7.2.3 State Enterprise Performance |
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201 | (2) |
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203 | (1) |
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204 | (5) |
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7.4.1 The Applicability of Extant Theories |
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204 | (2) |
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7.4.2 Lessons for Other Countries |
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206 | (2) |
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208 | (1) |
Index |
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209 | |