Introduction to the Modern Corporation System (Second Edition)

Author: Xu Maokui
Publisher:
Publish Date: 2006-05-01
Features: This book provides a comprehensive discussion on the theory, operation, and corporate reform of state-owned enterprises in China under the modern corporate system. It is one of the most comprehensive and systematic studies on the corporate system to date. It is part of the Renmin University of China's 21st Century Series textbooks and is not only suitable for teaching in economics and economic management but also serves as a necessary reference for economic theory research and economic management personnel. Modern Corporate System Introduction offers a comprehensive discussion on the theory, operation, and corporate reform of state-owned enterprises under the modern corporate system. It is one of the most comprehensive and systematic studies on the corporate system to date. It is part of the Renmin University of China's 21st Century Series textbooks and is not only suitable for teaching in economics and economic management but also serves as a necessary reference for economic theory research and economic management personnel. The book is divided into three parts. The first part provides a theoretical overview of the modern corporate system, focusing on introducing the nature and characteristics of the modern corporate system, as well as the development of modern enterprise theory since the 1970s. It also conducts a detailed analysis of the property rights system of modern companies. The second part examines the operational process of modern companies, not only providing a comprehensive analysis and introduction of fundamental corporate operations such as company establishment, organizational structure, financial management, convertible bonds, asset restructuring, and liquidation, but also conducting in-depth research and interpretation of important theoretical and practical issues that arise in the operation of the modern corporate system, such as corporate governance structure, stock option plans for executives, and corporate financing theory. The third part explores the corporate reform of state-owned enterprises in China, studying important theoretical issues such as the diversification of public ownership forms, the fact that the shareholding reform of state-owned enterprises is not about privatization, strategic adjustments and restructuring of the state-owned economy, and the shareholding cooperative reform of small and medium-sized state-owned enterprises. It should also be noted that China's shareholding reform and capital market have made significant progress in recent years. On February 1, 2004, the State Council issued the Several Opinions of the State Council on Promoting the Reform, Opening Up, and Stability Development of the Capital Market (commonly referred to as "the Nine Principles"), which made important provisions and policy recommendations for addressing the separation of shares, improving capital market tax policies, enriching investment products, enhancing the quality of listed companies, regulating the development of market intermediary service institutions, and improving regulatory levels. By the end of 2005, the long-awaited new Company Law and Securities Law of China were finally enacted, marking an important milestone in China's corporate reform and capital market development. During the revision process of Modern Corporate System Introduction, the author promptly incorporated these new developments, making the book even more relevant to the current era.