Summary This paper proposes a micro-level framework to account for how firms in developing economies overcome domestic institutional constraints. It illustrates that the mechanisms enabling those firms to benefit from financial globalization are more complex than the "direct" financial channels...

A case study of Shanghai Petrochemical Company (SPC) is used to analyse how economic reforms in China have impacted on corporate governance and enterprise performance. Reforms have increased the level of competition and altered the corporate structure of large state enterprises such as SPC. The...

Although it is commonly assumed that there are no precedents against which to benchmark Renminbi (RMB), this study argues that the People’s Republic of China (PRC) own development experience provides a useful perspective on the internationalisation debate. This study indicates that lessons can...

Corporate governance is now a key concern in China's banking sector. Its importance is related to the important policy questions of how to foster economic growth without increasing inflation in an environment where monetary guidance does not function in a conventional manner and there exist few...