China's State Enterprise Reform

Hassard, John; Sheehan, Jackie; Zhou, Mianwei; Terpstra-Tong, Jane; Morris, Jonathan

doi:10.4324/9780203099711

Cited by 48 publications

(36 citation statements)

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“…Massive inefficiencies still occurred, and there was a significant deterioration in their performance and a loss of competitiveness. These failures were attributed to unclear property rights and the lack of separation between government and enterprise (Chen et al, 2006;Hassard et al, 2007;Lin and Zhu, 2001). The behaviour of SOEs remained fundamentally unchanged (Zhang, 2008: 32).…”

Section: Soe Reforms and Multiple Institutional Logics In The Field Omentioning

confidence: 99%

IPOs, institutional complexity, and management accounting in hybrid organisations: A field study in a state-owned enterprise in China

Dai

Tan

Tang

et al. 2017

Management Accounting Research

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An initial public offering (IPO) is an important milestone for an organisation. In addition to pressures from capital markets unavoidably imposed onto newly listed firms, other beliefs, rationales, and prescriptions deriving from the institutional environment where they operate may prevail and guide organisational practices. Drawing on the perspective of institutional logics, this paper investigates the implementation of management accounting (MA) within firms that face multiple institutional demands following an IPO. By studying a Chinese state-owned enterprise (SOE) that was recently listed, this paper demonstrates that the interplay of multiple logics, including State, corporate, and capital market logics, shapes the manner in which MA operates. This study also reveals that different MA practices tend to encompass institutional demands in diverse ways and to varying degrees. However, regardless of whether MA practices are implemented to simply respond to plural institutional expectations, connect different organising principles, or balance elements of multiple logics, they function as hybrid practices, helping to maintain the hybrid nature of the firm as a 'listed SOE'. This study makes two main contributions. First, it extends the literature on IPOs by providing an in-depth analysis of how MA is implemented and why it functions in particular ways in firms following an IPO, and by exploring the influences of a wider set of beliefs, rationales, and expectations on the MA practices of newly listed companies. Second, by drawing on the perspective of institutional logics, this paper extends prior research addressing the dynamics between institutional complexity and MA adoption by individual organisations and enriches our understanding of how hybrid organisations may maintain their hybridity through the deployment of MA practices.

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Section: Soe Reforms and Multiple Institutional Logics In The Field Omentioning

confidence: 99%

IPOs, institutional complexity, and management accounting in hybrid organisations: A field study in a state-owned enterprise in China

Dai

Tan

Tang

et al. 2017

Management Accounting Research

View full text Add to dashboard Cite

show abstract

“…In conclusion, therefore, "ownership change is not, in itself, a generic panacea". 35 If privatization as such failed to reform but rather brought about so much devastation in economic equilibrium and public wealth, one is compelled to ask, should it not be halted? Further, isn't it the private sector, now infused with corrupt public power, that most urgently needs reform so as to curb exploitation and restore neglected social and ecological protection?…”

Section: Where Is the Restructuring Headed?mentioning

confidence: 99%

“…It paved the way for the 1994 tax reform, which further institutionalized change in the pattern of revenue sharing, and shifted SOE funding to interest-bearing loans through banks and away from direct central budget allocations. 7 In the same year the Company Law was adopted, aiming at a "modern enterprise system". Bankruptcy became legally permissible after the 1995 law.…”

Section: From State Sector Reforms To Privatizationmentioning

confidence: 99%

Against Privatization in China: A Historical and Empirical Argument

Lin

2008

J OF CHIN POLIT SCI

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Reform in China's urban public sector has been so contentious that the nature, function, validity and viability of state firms require clarifications. First of a two-part critique, this essay assesses the outcomes and wider consequences of China's largely free wheeling process of privatization as compared to the rationale claimed for its instigation. By identifying the ideological and political forces behind that process, the essay further seeks to explain the erosion of public policy capacities pivotal for social defence in market globalization, thereby demonstrating the need to reorient the reform. Losing the opportunity to reinvigorate a sizable and strong state sector capable of healthy interactions with other sectors is shown to be especially damaging in developing and transitional societies, which in turn negatively impacts both global economy and ecology.

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“…We clarify that preferences of senior executives within SOEs play a significant role in shaping the authenticity of an accounting response (EVA ® implementation) to a regulatory impost. The success of an EVA ® implementation is not assured and the 6 actions of key actors in organizations can affect the efficacy with which it is used (Ezzamel and Burns, 2005 was implemented to achieve nationally pursued economic objectives, and affected multiple state enterprise contexts (Wu et al 2012;Holm 1995;Greenwood and Suddaby 2006;Hassard et al 2007;Oliver 1991;Seo and Creed 2002;Zietsma and Lawrence 2010).…”

Section: This Is An Area Of High Opportunity For Future Inquiry"mentioning

confidence: 99%

How Do Enterprises Respond to a Managerial Accounting Performance Measure Mandated by the State?

Bhimani

Dai

Sivabalan

et al. 2017

Journal of Management Accounting Research

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We study the application of Economic Value Added (EVA ® ) by Chinese stateowned enterprises (SOEs) following a regulatory requirement to deploy the measure. Our theoretical framing engages conceptual elements of institutional work and public accountability research to consider why key actors vary in their responses to the mandated application of EVA ® . Our data derives from thirty interviews with managers in three SOEs and their oversight body (the State-owned Assets Supervision and Administration Commission of the State Council). We identify two relevant dimensions associated with managers: 'accounting centricity' and 'institutional potential' and report that they drive the authenticity of actors' responses in the absence of enforcement of the mandated measure. When accounting centricity and institutional potential align to the dictates of the higher implementing body, accountability remains high notwithstanding the absence of enforcement. When these two factors do not align, accountability fails even when politicization is high and formal accountability claims are high. Where the two factors are partially present, the accountability response is mixed. Our study contributes to a refinement of the perspective advanced by prior investigations of institutionally sanctioned roll outs of accounting systems highlighting in particular, the role of human agency in explaining actor responses.

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China's State Enterprise Reform

Cited by 48 publications

References 0 publications

IPOs, institutional complexity, and management accounting in hybrid organisations: A field study in a state-owned enterprise in China

IPOs, institutional complexity, and management accounting in hybrid organisations: A field study in a state-owned enterprise in China

Against Privatization in China: A Historical and Empirical Argument

How Do Enterprises Respond to a Managerial Accounting Performance Measure Mandated by the State?

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