本科毕业论文外文翻译外文题目：TheinfluenceofwesternbanksoncorporategovernanceinChina出处：UniversityofCambridge作者：JaneNolan原文：TheinfluenceofwesternbanksoncorporategovernanceinChinaAbstractThisstudydrawsonin-depthqualitativeinterviewstoinvestigatethevarietyofinstitutionalforceswhichinfluencetheadoptionofwesterncorporategovernancemechanismsinChinesebanks.Followingpathdependencymodelsofinstitutionalchangeitwasshownthatcognitiveandnormativeinstitutions,includinga‘whoyouknow’orguanxicreditculture,meanthatthepracticalinfluenceofwesternbanksoncorporategovernancereformswasperceivedtobeineffectualinmostcases.Giventhefailureofwesterncredit-ratingsystemsinthesub-primecrisis,itislikelythatthisperceptionwillincreaseinthefuture.ThemajorityofwesternactorsbelievedthatthemainreasonChinesebanksseektoco-operatewithwesterninstitutionswastoenhancethelegitimacyoftheChinesebankintheglobalfinancialenvironment,ratherthantoactivelychangeexistinggovernancemechanisms.Keywords:banking,corporategovernance,institutionalchange,legitimacyseekingIntroductionThedevelopmentofChina’seconomyhas,todate,beendrivenbyitsconsiderablesupplyofcheaplabouranditsmanyandvariedproductionopportunities.Whetherornotcapitalwasallocatedefficientlyhasbeenoflittleconsequenceand,untilfairlyrecently,thefinancialsectorhasbeencharacterizedbystate-ownedbankslendingtostate-ownedenterprisesonthebasisofsocialpolicyprinciplesratherthanprofitabilityandmanagerialcompetence.YetasChina’seconomyadvancesthedevelopmentofthefinancialsectorissettobecomeevermoreimportant.Bankscannotindefinitelycontinuetomakehugeloanstoinefficiententerpriseswhichwillneverberepaidandmanyfinancialinstitutionsremaincompromisedbythecorporategovernanceproblemsassociatedwithhavingthestateasbothofficialregulatorandprincipalshareholder(IFC2005,Lietal.2008)Thatsaid,thereformofChina’sbanksisnowwellunderwayandthebasicmethodsemployedforrestructuringhavebeenlargecapitalinjections,thesettingupof‘bad-banks’andassetmanagementcompanies,initialpublicofferings,partnershipswithforeignbanks(withtheaimofimprovingmanagementandITdevelopment)andtheinclusionofoverseasboardmemberstohelpimprovecorporategovernance.SomeseethesemovesaspartofabroaderinterestbyChineseofficialsindevelopinganeconomicinstitutionalenvironmentwhichismorereflectiveoftheinternationalbusinesscommunity(Guthrie1998,Wang2007).And,atatheoreticallevel,theseadjustmentsraisesomeimportantquestionsaboutthenatureofinstitutionalchangeinChina’seconomictransition,suchaswhetherChinawilldevelopitsownuniqueformofcorporategovernance,orwhetheritwillconvergetowardsthemoremarket-basedmodelscommonlyfoundinthewest.Whiletheopeningofthemarkettowesternbanksh---本文来源于网络，仅供参考，勿照抄，如有侵权请联系删除---asbeenseenasakeyplankofthereformprogramme,atthetimeofwriting,manyeconomiesinthewesternworldarestrugglingtocopewiththefall-outfromthesub-primemortgagedebacle,andthecredibilityofwesternbanksisunderseverestrain(Bloomberg2009).SomehavearguedthatrecenteventscouldseeeconomicpowershiftfromwesttoeastandmuchattentionsnowfocusedonthenatureofChina’spositionintheglobaleconomicorder(Brown2008,Time2009).China’sbanksarenowverylarge,withthreeintheworld’stop10bymarketcapitalization.1However,suchlargeassetsshouldnotdetractfromtheproblemswhichremainintheChinesebankingsystemincludingashallowtalentpool,ashortageof...