Sun, Laixiang; Tobin, Damian - In: Corporate Governance: An International Review 13 (2005) 1, pp. 81-91
This paper argues that the deeply rooted cause of poor corporate governance practices in China's state-owned banks is the discretion enjoyed by policy makers to re-optimise their policy choices when they deem necessary and the consequent moral hazard leading to opportunistic behaviours of bank...