CEOs of public (listed) firms earn more than their counterparts in similar private (unlisted) firms. This can either be because rent extraction is easier in public firms than in private firms, or because managing a public firm involves more legal and institutional responsibilities than managing...

This paper is a call for the design of indigenously appropriate Chinese corporations.I begin by asking two questions: Why have independent directors and boards of directors failed to protect minority shareholders in Chinese listed state owned enterprises? Is there a solution to this...