毕业论文外文翻译-西方银行公司治理对国的影响.doc

本科毕业论文外文翻译 外文题目：The influence of western banks on corporate governance in China 出 处：University of Cambridge 作 者：Jane Nolan 原 文： The influence of western banks on corporate governance in China Abstract This study draws on in-depth qualitative interviews to investigate the variety of institutional forces which influence the adoption of western corporate governance mechanisms in Chinese banks. Following path dependency models of institutional change it was shown that cognitive and normative institutions, including a ‘who you know’ or guan xi credit culture, mean that the practical influence of western banks on corporate governance reforms was perceived to be ineffectual in most cases. Given the failure of western credit-rating systems in the sub-prime crisis, it is likely that this perception will increase in the future. The majority of western actors believed that the main reason Chinese banks seek to co-operate with western institutions was to enhance the legitimacy of the Chinese bank in the global financial environment, rather than to actively change existing governance me chanisms. Keywords: banking,corporate governance,institutional change,legitimacy seeking Introduction The development of China’s economy has, to date, been driven by its considerable supply of cheap lab our and its many and varied production opportunities. Whether or not capital was allocated efficiently has been of little consequence and, until fairly recently, the financial sector has been characterized by state-owned banks lending to state-owned enterprises on the basis of social policy principles rather than profitability and managerial competence. Yet as China’s economy advances the development of the financial sector is set to become ever more important. Banks cannot indefinitely continue to make huge loans to inefficient enterprises whic