Andrews, Neil and Tomasic, Roman (2006) Directing China's Top 100 Listed Companies: Corporate Governance in an Emerging Market Economy. Corporate Governance Law Review, 2 (3). pp. 245-309. ISSN 1449-9029

Abstract

This paper reports on an empirical study of directors' roles in corporate governance in Chinese listed companies drawing data derived from 108 intensive face-to-face interviews in nine Chinese cities with company officers from the Fortune magazine top 100 Chinese listed companies list and outside corporate accountants, lawyers and regulators. It maps the role of the chairperson of the board of directors, the general manager, other executive directors and independent directors in enhancing corporate governance. They face significant challenges in implementing internal corporate governance standards. Their autonomy is affected by external pressures from controlling state shareholders and the dominant role of chairpersons appointed by them. Wider economic and political considerations have limited directors ' independence. The paper maps the differential contributions made by chairpersons, managing directors and independent and executive directors. The role of the enterprise's Communist Party Committee is often decisive especially in senior appointments and strategic development in these top 100 companies.

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