AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

China's fake capitalism. (Scan).(Brief Article)

The American Enterprise

| January 01, 2002 | COPYRIGHT 2002 The American Enterprise, a national magazine of politics, business and culture (TEAmag.com). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

When investors buy stock in a corporation, they want to make sure the company has an independent board of directors, that its books have been audited by professional accountants, and that its CEO has authority to make decisions about hiring, firing, and investment.

Yet as panelists at a recent American Enterprise Institute seminar noted, few of these safeguards exist reliably among nominally independent companies in China.

All of the more than 1,000 companies on the Shanghai Stock Exchange are state-controlled, with 54 to 60 percent of the stock in government hands. The government and Chinese Communist Party also control most nominations to Chinese boards of directors. Even very large Chinese companies have assets that can be seized by the government at any time. Small print in a share offering by the giant Chinese National Petroleum Corporation revealed that 90 percent of the land on which the company drills is owned by state entities and ...

Related articles from newspapers, magazines, journals, and more
International Conference on Value Creation through Professional Accountants in...
News wire article from: PPI - Pakistan Press International May 9, 2007 700+ words
...Karachi. Theme of the conference is Value Creation through Professional Accountants in Business. Dr. Ata ur Rahman, Chairman, Higher Education...CAPA countries including Australia, Canada, New Zealand, China, Japan, Korea, Malaysia, Hong Kong, India, Bangladesh...
New Guidance for Accountants in Business.(NEWS)(Professional Accountants in...
Magazine article from: Strategic Finance Williams, Kathy July 1, 2008 700+ words
The Professional Accountants in Business (PAIB) Committee...are The Crucial Roles of Professional Accountants in Business in Mid-Sized...org/store. Click on Professional Accountants in Business on the left...
The role of professional accountants in business is hitting the news--and CIMA...
Magazine article from: Financial Management (UK) Tilley, Charles June 1, 2005 700+ words
...importance of the role of professional accountants in business. In April...profession can deliver: as professional accountants in business providing...financial direction; as professional accountants in practice providing...
Fago Briefs Professional Accountants, Auditors Draft Code of Ethics.
News wire article from: Asia Africa Intelligence Wire July 8, 2004 700+ words
...of Ethics For Professional Accountants while About 150...Code of Ethics, professional accountants and tax are interlinked...s economy, professional accountants and auditors who...
IFAC proposes updated guidance for professional accountants on IT.(In Brief)
Magazine article from: Accountancy Ireland October 1, 2006 700+ words
...necessary to prepare professional accountants to perform competently...Information Technology for Professional Accountants, provides details...skills required of professional accountants in the IT environment...
Professional accountants in business are valuable.(NEWS)(The Roles and Domain...
Magazine article from: Strategic Finance Williams, Kathy January 1, 2006 700+ words
...part of this effort, IFAC's Professional Accountants in Business (PAIB) Committee...paper demonstrates how the role of professional accountants in business is critical to the...ifac.org/store. Click on Professional Accountants in Business on the left side of...
IFAC proposes guidance on codes of conduct.(International Federation of...
Magazine article from: Accountancy Ireland December 1, 2006 700+ words
...Federation of Accountants' (IFAC) Professional Accountants in Business (PAIB) Committee...to assist companies and their professional accountants in developing and implementing...highlights the varied roles of professional accountants in business in driving and supporting...
Financial reporting: recommendations from the Committee on the Future of...
Magazine article from: California CPA Lacey, John M. December 1, 2005 700+ words
...on the Future of California's Professional Accountants--a group of California civic...recommendations apply to the conduct of professional accountants and auditors, and the financial...communicate to California's professional accountants their duty to the public trust...
IFAC's professional accountants in business (PAIB) committee.(first in...)
Magazine article from: Financial Management (UK) July 1, 2008 700+ words
IFAC's professional accountants in business (PAIB) committee has released the following...value in evaluating investments. * The Crucial Roles of Professional Accountants in Business in Mid-Sized Enterprises (www.snipurl...
Microsoft to Deliver New Professional Accountants' Network.
Press release article from: PR Newswire May 16, 2005 700+ words
...announced it will launch the Microsoft(R) Professional Accountants' Network, designed specifically for accounting...professionals and industry experts to build its Professional Accountants Network. Based on the insight the company...
For more facts and information, see all results

Source: HighBeam Research, China's fake capitalism. (Scan).(Brief Article)

©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA