China's breathtaking economic reform, including the rise of private enterprise, has often led observers to assume that … show a dramatic rise in the number of ostensibly private enterprises since the late 1970s. China now has stock exchanges in … two cities and hundreds of Chinese firms now have listings in exchanges beyond the mainland. In 1978, capitalists in China …

While China appears to present a new variety of capitalism, frequently labeled "state capitalism," the features of this … system - particularly the organizational structure surrounding China's most important state-owned enterprises (the national … champions) - remains a black box. Corporate governance scholarship on China has focused on listed firms, but listed SOEs in …