David Faure
- Published in print:
- 2006
- Published Online:
- September 2011
- ISBN:
- 9789622097834
- eISBN:
- 9789882206694
- Item type:
- chapter
- Publisher:
- Hong Kong University Press
- DOI:
- 10.5790/hongkong/9789622097834.003.0004
- Subject:
- Economics and Finance, South and East Asia
This chapter outlines the emergence of the modern firm in relation to the introduction of Company Law in China from the late nineteenth century. The Company Law of 1904 redefined the role of the ...
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This chapter outlines the emergence of the modern firm in relation to the introduction of Company Law in China from the late nineteenth century. The Company Law of 1904 redefined the role of the state in relation to business by replacing the idea of privileges granted by imperial charter with state recognition for private mercantile initiative in return for tax. From then on, private trade was the citizen's right, and the modern firm came about in China as a result of the privatization of regional government enterprises combined with the evolution of regional family businesses into full corporations.Less
This chapter outlines the emergence of the modern firm in relation to the introduction of Company Law in China from the late nineteenth century. The Company Law of 1904 redefined the role of the state in relation to business by replacing the idea of privileges granted by imperial charter with state recognition for private mercantile initiative in return for tax. From then on, private trade was the citizen's right, and the modern firm came about in China as a result of the privatization of regional government enterprises combined with the evolution of regional family businesses into full corporations.
Linda Yueh
- Published in print:
- 2011
- Published Online:
- April 2015
- ISBN:
- 9780199205837
- eISBN:
- 9780191806674
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199205837.003.0007
- Subject:
- Business and Management, Political Economy
This chapter discusses the laws that grant foreign investors legal status to operate in the Chinese economy. The joint venture (JV) law was the first corporate law in China. It created legal economic ...
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This chapter discusses the laws that grant foreign investors legal status to operate in the Chinese economy. The joint venture (JV) law was the first corporate law in China. It created legal economic entities in a system consisting only of state-owned enterprises (SOEs) and non-legally defined organizations like urban collectives. Laws that govern foreign-invested enterprises (FIEs) and pertain to economic contracts predated the passage of China's primary corporate statute. In 1994, the Company Law took effect and became the centerpiece of Chinese law governing corporations.Less
This chapter discusses the laws that grant foreign investors legal status to operate in the Chinese economy. The joint venture (JV) law was the first corporate law in China. It created legal economic entities in a system consisting only of state-owned enterprises (SOEs) and non-legally defined organizations like urban collectives. Laws that govern foreign-invested enterprises (FIEs) and pertain to economic contracts predated the passage of China's primary corporate statute. In 1994, the Company Law took effect and became the centerpiece of Chinese law governing corporations.
Joe McGrath
- Published in print:
- 2015
- Published Online:
- January 2016
- ISBN:
- 9780719090660
- eISBN:
- 9781781708378
- Item type:
- book
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719090660.001.0001
- Subject:
- Sociology, Law, Crime and Deviance
This is the first definitive examination of the practice of corporate regulation and enforcement from the foundation of the Irish State to the present day. It analyses the transition in Ireland from ...
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This is the first definitive examination of the practice of corporate regulation and enforcement from the foundation of the Irish State to the present day. It analyses the transition in Ireland from a sanctioning, ‘command and control’ model of corporate enforcement to the compliance-orientated, responsive regulatory model. It is also unique in locating this shift in its broader sociological and jurisprudential context. It provides a definitive account of a State at a critical stage of its economic development, having moved from an agrarian and protected society to a free-market globalised economy which is trying to cope with the negative aspects of increased corporate activity, having experienced an economic boom and depression in a remarkably condensed period of time. Traditionally, corporate wrongdoing was often criminalised using conventional criminal justice methods and the ordinary police were often charged with the responsibility of enforcing the law. Since the 1990s, however, the conventional crime monopoly on corporate deviancy has become fragmented because a variety of specialist, interdisciplinary agencies with enhanced powers now address corporate wrongdoing. The exclusive dominance of conventional crime methods has also faded because corporate wrongdoing is now specifically addressed by a responsive enforcement architecture, taking compliance orientated and sanctioning approaches, using both civil and criminal enforcement mechanisms, where criminal law is now the sanction of last resort.Less
This is the first definitive examination of the practice of corporate regulation and enforcement from the foundation of the Irish State to the present day. It analyses the transition in Ireland from a sanctioning, ‘command and control’ model of corporate enforcement to the compliance-orientated, responsive regulatory model. It is also unique in locating this shift in its broader sociological and jurisprudential context. It provides a definitive account of a State at a critical stage of its economic development, having moved from an agrarian and protected society to a free-market globalised economy which is trying to cope with the negative aspects of increased corporate activity, having experienced an economic boom and depression in a remarkably condensed period of time. Traditionally, corporate wrongdoing was often criminalised using conventional criminal justice methods and the ordinary police were often charged with the responsibility of enforcing the law. Since the 1990s, however, the conventional crime monopoly on corporate deviancy has become fragmented because a variety of specialist, interdisciplinary agencies with enhanced powers now address corporate wrongdoing. The exclusive dominance of conventional crime methods has also faded because corporate wrongdoing is now specifically addressed by a responsive enforcement architecture, taking compliance orientated and sanctioning approaches, using both civil and criminal enforcement mechanisms, where criminal law is now the sanction of last resort.
Linda Yueh
- Published in print:
- 2011
- Published Online:
- April 2015
- ISBN:
- 9780199205837
- eISBN:
- 9780191806674
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199205837.003.0006
- Subject:
- Business and Management, Political Economy
This chapter focuses on the legal and institutional factors that shaped the development of the entrepreneurs in China. The non-state sector has been a strong driver of China's growth and outweighed ...
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This chapter focuses on the legal and institutional factors that shaped the development of the entrepreneurs in China. The non-state sector has been a strong driver of China's growth and outweighed the importance of state-owned enterprises (SOEs) in generating industrial output by the late 1990s. Private firms benefited from the corporatization transformation of enterprises and became shareholding companies under the Company Law. As a result, private firms largely operated without guidance from laws or policies, and often at a disadvantage to SOEs.Less
This chapter focuses on the legal and institutional factors that shaped the development of the entrepreneurs in China. The non-state sector has been a strong driver of China's growth and outweighed the importance of state-owned enterprises (SOEs) in generating industrial output by the late 1990s. Private firms benefited from the corporatization transformation of enterprises and became shareholding companies under the Company Law. As a result, private firms largely operated without guidance from laws or policies, and often at a disadvantage to SOEs.
