9780415652803

The Theory of the Firm and Chinese Enterprise Reform: The Case of China International Trust and Investment Corporation

  • ISBN 13:

    9780415652803

  • ISBN 10:

    0415652804

  • Edition: 1st
  • Format: Nonspecific Binding
  • Copyright: 08/12/2014
  • Publisher: Routledge

Note: Not guaranteed to come with supplemental materials (access cards, study guides, lab manuals, CDs, etc.)

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Summary

Changes to corporate structure, including the role of the corporate headquarters, have been key factors in bringing about economic reform in China. In this penetrating and insightful book, Xiao questions the conventional theory of the firm, arguing that the ultimate goal of the headquarters of modern large corporations is to function as a substitute for the market, and introducing a new explanation for the nature of the firm - the 'substitution function model'. He provides an insider's account of the reforms in CITIC, and as such this is a rare narrative that should be essential reading for scholars and practitioners who care about the theory and practice of the firm, in particular in the context of Chinese enterprise reform.

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