Accountability is a concept that has been frequently referred to in Anglo-Americansystems and in the OECD’s corporate governance documents, as well as in the Englishtranslations of corporate governance documents from non-English speakingjurisdictions. It is in the Anglo-American literature, in particular, where the word findsprominence. It has been suggested in China that accountability is one of the basicprinciples of corporate governance that needs to be consistently enforced. But doesthis mean that board accountability, as it has been provided for in the Anglo-Americansystem, is actually an element of Chinese corporate governance? If not, should it beadopted? Or should China develop a concept that is more appropriately included as acritical part of its own particular corporate governance needs? The paper aims toaddress these matters in order to ascertain where Chinese corporate governance standson accountability as far as the boards of large listed companies are concerned, and whatit should do. We opine that while there are elements of accountability in Chinesecorporate governance, it does not have the form of accountability embraced in Anglo-American systems. But, it is argued, as China moves from having a system totally basedon administrative governance to one that is based more on economic governance thekind of approach that applies in Anglo-American jurisdictions is likely to become morerelevant. Within a hybrid corporate governance system combining elements of bothadministrative and economic governance, we develop a unique “wenze system” withforms and characters of accountability that is likely to develop to address the needs ofcorporate governance in China and the fostering of its listed companies.
Field of Research
180109 Corporations and Associations Law 1801 Law
Socio Economic Objective
970118 Expanding Knowledge in Law and Legal Studies
Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact email@example.com.