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The Independent Director System in Chinese Boards

Back Ihnson
  • : 부경대학교 글로벌지역학연구소
  • : Journal of Global and Area Studies(JGA) 4권1호
  • : 연속간행물
  • : 2020년 06월
  • : 65-82(18pages)

DOI

10.31720/JGA.4.1.4


목차

INTRODUCTION
EXISTING FEATURES OF CHINA’S CORPORATE GOVERNANCE STRUCTURE
DOES THE INDEPENDENT DIRECTOR MAKE A DIFFERENCE?
EMPIRICAL RESULTS OF CHINA
FIDUCIARY DUTIES AND CHINESE COURTS’ INCOMPETENCE
OBSTACLES TO ENFORCING DERIVATIVE SUITS
CONCLUSION
REFERENCES

키워드 보기


초록 보기

The purpose of this paper is to show whether the newly instituted independent director system implemented by the CSRC (China Securities Regulatory Commission) which took into force in 2002 has fulfilled its original objective of stopping misdeeds of controlling shareholders. This mandatory requirement demands that at least one-third of the entire board of each listed firm in China be independent directors.
As to the question of whether or not this newly installed independent director system has made a difference in improving the prevailing corporate structure of listed firms in China, there has been no definitive affirmative or negative response among experts on corporate governance regime of China. Against this background, this paper argues that for effective transplant and workings of the independent director system in the context of the state-controlling shareholding structure, two supplementary legal systems such as court active guidance and regulation of the standard of fiduciary duties and derivative suits need to be developed further. Notwithstanding the urgent need of these legal supplementary institutions, in light of gaping failures in ensuring that Chinese courts and judges cope with and work as an effective judicial institution in applying standard of corporate fiduciary duties and using the derivative action as a vehicle for fiduciary claims, thus suppressing and deterring the illegalities of controlling shareholders that harm listed companies, the independent director system appears to have fallen short of its stated objective.

UCI(KEPA)

간행물정보

  • : 사회과학분야  > 지역개발
  • : KCI후보
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  • : 반년간
  • : 2586-0305
  • :
  • : 학술지
  • : 연속간행물
  • : 2017-2020
  • : 42


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발행기관 : 부경대학교 글로벌지역학연구소 간행물 : Journal of Global and Area Studies(JGA) 4권 1호 발행 연도 : 2020 페이지 : pp. 45-64 (20 pages)

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This study aims to examine the early history of baseball in Cuba and analyze the nationalism and racism in Cuban baseball history. The Cuban ethnic identity was created through comprehensive mechanisms such as the Spanish colonization period, the period of U.S. intervention in Cuban domestic affairs, and slavery. Cuba struggled to become Cuban (Cubano) through a full-fledged struggle against Spain during the Spanish colonization period that started in 1868. Among the many leaders who led rebellions, some liberated all of their slaves, and encouraged them to become engaged in the independence of Cuba. In the late 19th century, the country that Cuban intellectuals desired was a country where there was no racial discrimination among Blacks, Whites, and Mulattos. During this period, baseball spread from the U.S., and became ingrained into the minds of Cubans who aspired after their own independent state. Baseball started to place itself as the Cuban people's sport. In reality, in the early 20th century when Cuba was ruled by the U.S., and a number of factors appeared in Cuban baseball, but this excluded racial discrimination. In 1900, San Francisco, a baseball team of black Africans, appeared in the Cuban baseball league. Such a baseball team of colored people could not be found in the mainland U.S. in the early 20th century. This was a way for baseball to make quite a contribution to settling racism. This study explains about the nationalist characteristics of Cuban baseball in the late 19th century and the antiracist features in the early 20th century, and why baseball remains a symbolic sport in Cuba.

4The Independent Director System in Chinese Boards

저자 : Back Ihnson

발행기관 : 부경대학교 글로벌지역학연구소 간행물 : Journal of Global and Area Studies(JGA) 4권 1호 발행 연도 : 2020 페이지 : pp. 65-82 (18 pages)

다운로드

(기관인증 필요)

초록보기

The purpose of this paper is to show whether the newly instituted independent director system implemented by the CSRC (China Securities Regulatory Commission) which took into force in 2002 has fulfilled its original objective of stopping misdeeds of controlling shareholders. This mandatory requirement demands that at least one-third of the entire board of each listed firm in China be independent directors.
As to the question of whether or not this newly installed independent director system has made a difference in improving the prevailing corporate structure of listed firms in China, there has been no definitive affirmative or negative response among experts on corporate governance regime of China. Against this background, this paper argues that for effective transplant and workings of the independent director system in the context of the state-controlling shareholding structure, two supplementary legal systems such as court active guidance and regulation of the standard of fiduciary duties and derivative suits need to be developed further. Notwithstanding the urgent need of these legal supplementary institutions, in light of gaping failures in ensuring that Chinese courts and judges cope with and work as an effective judicial institution in applying standard of corporate fiduciary duties and using the derivative action as a vehicle for fiduciary claims, thus suppressing and deterring the illegalities of controlling shareholders that harm listed companies, the independent director system appears to have fallen short of its stated objective.

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In 2015 the SDGs replaced the MDGs. This new set of goals coalesce around a general theme of inequality. This article will argue that in order to understand how SDGs are to be managed, governed, and realised the role of the state in this process must be robustly theorised and contextualised within a world of multi-level governance. Therefore, a robust theory of the state must be outlined to generate an appropriate ontology of state (non)intervention with regard to solving the key developmental inequalities associated with the suite of SDGs. In addition, global, regional, and local actors all influence the ability to achieve these goals; yet the state remains a key institutional site where power coalesces. Therefore, the roles of this plethora of development actors must be delineated to reveal the nature of state power in a 21st century characterised by key processes of globalisation.

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