The development of corporate governance in China

Over the last decade there have been significant economic reforms in China. Foreign investment is encouraged and there are increasing numbers of joint ventures with foreign partners. The stock exchanges of Shanghai and Shenzen have developed quite rapidly, and the expansion of China's economy and the growing importance of foreign investment has implications for the development of corporate governance structures in China. The internationalization of institutional portfolios ensures that there is a cross‐border interest in corporate governance, and that China's steps in developing corporate governance will be watched with interest. In this paper, we will explore the existing cultural aspects of China, the structure of share ownership in China, recent developments that have taken place in China's capital markets, including the growing foreign influence, and their implications for corporate governance developments. We compare and contrast the influences on corporate governance in the West with those in China. We conclude that any model of corporate governance which develops in China is likely to embody the special role of the state and certain idiosyncratic cultural aspects of China, whilst taking on certain of the characteristics of an Anglo‐Saxon corporate governance model.     

Is the allocation of voting power among EU states fair?

It has often been claimed that the current allocation of votes among EU states is not fair. In this paper we verify this assertion by carrying out an evaluation of the distribution of power among the member states. The results show that the current distribution of votes for the qualified majority does not lead to a fair distribution of power whatever definition of the EU is considered. It can not be claimed however that the current voting process has a systematic bias in favor of certain states. We also present a simple method to derive voting weights which lead to a fair allocation of power.     

Risk management for targeting customs controls in developing countries: a risky venture for revenue performance?

Customs authorities in developing countries are often reluctant to forget systematic inspections for fear of risking revenue loss. Such physical inspections however, impede rather than facilitate trade. Control selectivity is therefore a key issue in customs administration reform. This paper shows how a sophisticated risk management method can facilitate trade by automatically and rationally selecting transactions, with the end result of actually enhancing revenue performance. Copyright © 2005 John Wiley & Sons, Ltd.     

Money,Mortgages, and the Conquest of America

In colonial America, land acquired new liquidity when it became liable for debts. Though English property law maintained a firm distinction between land and chattel for centuries, in the American colonies, the boundary between the categories of real and personal property began to disintegrate. There, the novelty of easy foreclosure and consequent easy alienation of land made it possible for colonists to obtain credit, using land as a security. However, scholars have neglected the first instances in which a newly unconstrained practice of mortgage foreclosure appeared—the transactions through which colonists acquired land from indigenous people in the first place. In this article, I explore these early transactions for land, which took place across fundamental differences between colonists’ and native communities’ conceptions of money, land, and exchange itself. I describe how difference and dependence propelled the growth of the early American contact economy to make land into real estate, or the fungible commodity on the speculative market that it remains today.     

Contesting Legality in Authoritarian Contexts: Food Safety,Rule of Law and China's Networked Public Sphere

Since the introduction of the Internet, China's networked public sphere has become a critical site in which various actors compete to shape public opinion and promote or forestall legal and political change. This paper examines how members of an online public, the Tianya Forum, conceptualized and discussed law in relation to a specific event, the 2008 Sanlu milk scandal. Whereas previous studies suggest the Chinese state effectively controls citizens' legal consciousness via propaganda, this analysis shows that the construction of legality by the Tianya public was not a top‐down process, but a complex negotiation involving multiple parties. The Chinese state had to compete with lawyers and outspoken media to frame and interpret the scandal for the Tianya public and it was not always successful in doing so. Data show further how the online public framed the food safety incident as indicative of fundamental problems rooted in China's political regime and critiqued the state's instrumental use of law.