外文翻譯-----西方銀行公司治理對(duì)中國的影響(已修改)
2025-05-31 11:44 本頁面
【正文】 本科畢業(yè)論文外文翻譯 外文題目： The influence of western banks on corporate governance in China 出 處： University of Cambridge 作 者： Jane Nolan 原 文 ： The influence of western banks on corporate governance in China Abstract This study draws on indepth qualitative interviews to investigate the variety of institutional forces which influence the adoption of western corporate governance mechanisms in Chinese banks. Following path dependency models of institutional change it was shown that cognitive and normative institutions, including a ‘who you know’ or guan xi credit culture, mean that the practical influence of western banks on corporate governance reforms was perceived to be ineffectual in most cases. Given the failure of western creditrating systems in the subprime crisis, it is likely that this perception will increase in the future. The majority of western actors believed that the main reason Chinese banks seek to cooperate with western institutions was to enhance the legitimacy of the Chinese bank in the global financial environment, rather than to actively change existing governance me chanisms. Keywords: banking,corporate governance,institutional change,legitimacy seeking Introduction The development of China’s economy has, to date, been driven by its considerable supply of cheap lab our and its many and varied production opportunities. Whether or not capital was allocated efficiently has been of little consequence and, until fairly recently, the financial sector has been characterized by stateowned banks lending to stateowned enterprises on the basis of social policy principles rather than profitability and managerial petence. Yet as China’s economy advances the development of the financial sector is set to bee ever more important. Banks cannot indefinitely continue to make huge loans to inefficient enterprises which will never be repaid and many financial institutions remain promised by the corporate governance problems associated with having the state as both official regulator and principal shareholder (IFC 2020, Li et al. 2020)That said, the reform of China’s banks is now well underway and the basic methods employed for restructuring have been large capital injections, the setting up of ‘badbanks’ and asset management panies, initial public offerings, partnerships with foreign banks(with the aim of improving management and IT development) and the inclusion of overseas board members to help improve corporate governance. Some see these moves as part of a broader interest by Chinese officials in developing an economic institutional environment which is more reflective of the international business munity (Guthrie 1998, Wang 2020). And, at a theoretical level, these adjustments raise some important questions about the nature of institutional change in China’s economic transition, such as whether China will develop its own unique form of corporate governance, or whether it will converge towards the more marketbased models monly found in the west. While the opening of the market to western banks has been seen as a key plank of there form program me, at the time of writing, many economies in the western world are struggling to cope with the fallout from the subprime mortgage debacle, and the credibility of western banks is under severe strain (Bloomberg 2020). Some have argued that recent events could see economic power sh
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