China’s Capital Markets and Corporate Governance

The Summer 2014 issue of the Journal of Applied Corporate FinanceChina’s Capital Markets and Corporate Governance, presents articles on China’s financial policy since the death of Mao and the return to power of Deng Xiaoping.

Since the late 1970s, the Chinese government has succeeded in engineering what Randall Morck and Bernard Yeung describe as “the greatest economic feat in the history of the world—the lifting of hundreds of millions of people out of the abject poverty of a pre-industrial society.” “No other government,” Morck and Yeung go on to say, “has achieved anything remotely comparable.”

How was this feat accomplished? Was it the willingness of Deng and the Chinese Communist Party to adopt Western market capitalism? The answer offered by the collection of articles and CARE conference presentations in this issue is yes and no. (CARE, is Notre Dame’s Center for Accounting Research and Education; these presentations took place at a conference hosted in June by Hong Kong Polytechnic University and organized by CARE).

To read more and to download the issue click here.