Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China

Before taking advantage of the growing opportunities of the Chinese market, investors will do well to understand the strong influence of Chinese culture on the way businesses operate, how they govern themselves, and how they interact with each othe...

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Bibliographic Details
Main Author:	Smith, David
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING ACCOUNTING RULES ASSET MANAGEMENT BARRIER BARRIER TO ENTRY BEST PRACTICES BOND BONDS BUSINESS ASSOCIATIONS BUSINESS ENTITIES BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS INTERACTION BUSINESS LAW BUSINESS LEADERSHIP BUSINESS OPERATION BUSINESS PARTNER BUSINESS PARTNERS BUSINESS PERSPECTIVE BUSINESS PRACTICES BUSINESS RELATIONSHIP BUSINESS RELATIONSHIPS BUSINESS STRATEGY BUSINESS UNIT BUSINESS UNITS BUSINESSES CAPACITY-BUILDING CAPITAL MARKET CHIEF EXECUTIVE COLLECTIVISM COMMERCIAL BANKS COMPANY COMPANY LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE PERFORMANCE CORPORATE SCANDAL CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS COUNTRY TO COUNTRY CUSTOMS DERIVATIVE DEVELOPING COUNTRIES DOMESTIC CAPITAL DUE DILIGENCE ECONOMIC INTEGRATION EMERGING ECONOMY EMERGING MARKETS EMPLOYMENT EXPOSURE FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTIONS FIRM PERFORMANCE FIRM VALUATIONS FIRMS FOREIGN INSTITUTIONAL INVESTOR FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL CORPORATE GOVERNANCE GLOBAL PRIVATE SECTOR GLOBAL STANDARDS GLOBALIZATION GOVERNANCE ISSUES GOVERNMENT POLICY HARMONIZATION HOLDING HUMAN RELATIONSHIPS ID INDEPENDENT DIRECTORS INDIVIDUALS INSTITUTION INSTITUTIONAL INVESTOR INSTITUTIONAL SHAREHOLDER INSURANCE INTERNATIONAL BUSINESS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL STANDARDS IPO LIABILITY LICENSES LIMITED LISTED COMPANIES LISTED COMPANY LOAN LOCAL GOVERNMENT LOCAL INSTITUTIONS LTD. MAJORITY SHAREHOLDERS MANAGERS MARKETING MATERIAL MINORITY SHAREHOLDERS MUTUAL FUNDS OUTPUT OWNERSHIP STRUCTURES PARENT COMPANY PARTY PENSION PENSION FUNDS PRIVATE COMPANIES PRIVATIZATION PUBLIC CORPORATIONS PUBLIC MARKET QUERIES RESULT SALE OF A BUSINESS SALE OF PROPERTY SECURITIES SHARE MARKET SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDERS SOCIAL NETWORKS SOCIETIES SOCIETY STATE ENTERPRISES STOCK EXCHANGES STORE SUBSIDIARY SUPPLIER TELEPHONE TRACK RECORD TRADING TRANSACTION TRANSPARENCY TRUST FUND USER USERS
Online Access:	http://documents.worldbank.org/curated/en/2012/09/16750630/guanxi-mianzi-business-impact-culture-corporate-governance-china http://hdl.handle.net/10986/17094

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spelling	okr-10986-170942021-04-23T14:03:33Z Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China Smith, David ACCOUNTING ACCOUNTING RULES ASSET MANAGEMENT BARRIER BARRIER TO ENTRY BEST PRACTICES BOND BONDS BUSINESS ASSOCIATIONS BUSINESS ENTITIES BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS INTERACTION BUSINESS LAW BUSINESS LEADERSHIP BUSINESS OPERATION BUSINESS PARTNER BUSINESS PARTNERS BUSINESS PERSPECTIVE BUSINESS PRACTICES BUSINESS RELATIONSHIP BUSINESS RELATIONSHIPS BUSINESS STRATEGY BUSINESS UNIT BUSINESS UNITS BUSINESSES CAPACITY-BUILDING CAPITAL MARKET CHIEF EXECUTIVE COLLECTIVISM COMMERCIAL BANKS COMPANY COMPANY LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE PERFORMANCE CORPORATE SCANDAL CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS COUNTRY TO COUNTRY CUSTOMS DERIVATIVE DEVELOPING COUNTRIES DOMESTIC CAPITAL DUE DILIGENCE ECONOMIC INTEGRATION EMERGING ECONOMY EMERGING MARKETS EMPLOYMENT EXPOSURE FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTIONS FIRM PERFORMANCE FIRM VALUATIONS FIRMS FOREIGN INSTITUTIONAL INVESTOR FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL CORPORATE GOVERNANCE GLOBAL PRIVATE SECTOR GLOBAL STANDARDS GLOBALIZATION GOVERNANCE ISSUES GOVERNMENT POLICY HARMONIZATION HOLDING HUMAN RELATIONSHIPS ID INDEPENDENT DIRECTORS INDIVIDUALS INSTITUTION INSTITUTIONAL INVESTOR INSTITUTIONAL SHAREHOLDER INSURANCE INTERNATIONAL BUSINESS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL STANDARDS IPO LIABILITY LICENSES LIMITED LISTED COMPANIES LISTED COMPANY LOAN LOCAL GOVERNMENT LOCAL INSTITUTIONS LTD. MAJORITY SHAREHOLDERS MANAGERS MARKETING MATERIAL MINORITY SHAREHOLDERS MUTUAL FUNDS OUTPUT OWNERSHIP STRUCTURES PARENT COMPANY PARTY PENSION PENSION FUNDS PRIVATE COMPANIES PRIVATIZATION PUBLIC CORPORATIONS PUBLIC MARKET QUERIES RESULT SALE OF A BUSINESS SALE OF PROPERTY SECURITIES SHARE MARKET SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDERS SOCIAL NETWORKS SOCIETIES SOCIETY STATE ENTERPRISES STOCK EXCHANGES STORE SUBSIDIARY SUPPLIER TELEPHONE TRACK RECORD TRADING TRANSACTION TRANSPARENCY TRUST FUND USER USERS Before taking advantage of the growing opportunities of the Chinese market, investors will do well to understand the strong influence of Chinese culture on the way businesses operate, how they govern themselves, and how they interact with each other. The author (David Smith) identifies two key cultural and sociological issues of particular interest guanxi (relationships and networks) and mianzi (face). He analyzes their most common implications for investors in areas such as related-party transactions, board composition and deliberations, and shareholder engagement. 2014-02-18T22:45:50Z 2014-02-18T22:45:50Z 2012-09 http://documents.worldbank.org/curated/en/2012/09/16750630/guanxi-mianzi-business-impact-culture-corporate-governance-china http://hdl.handle.net/10986/17094 English en_US Private Sector Opinion;no. 26 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTING ACCOUNTING RULES ASSET MANAGEMENT BARRIER BARRIER TO ENTRY BEST PRACTICES BOND BONDS BUSINESS ASSOCIATIONS BUSINESS ENTITIES BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS INTERACTION BUSINESS LAW BUSINESS LEADERSHIP BUSINESS OPERATION BUSINESS PARTNER BUSINESS PARTNERS BUSINESS PERSPECTIVE BUSINESS PRACTICES BUSINESS RELATIONSHIP BUSINESS RELATIONSHIPS BUSINESS STRATEGY BUSINESS UNIT BUSINESS UNITS BUSINESSES CAPACITY-BUILDING CAPITAL MARKET CHIEF EXECUTIVE COLLECTIVISM COMMERCIAL BANKS COMPANY COMPANY LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE PERFORMANCE CORPORATE SCANDAL CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS COUNTRY TO COUNTRY CUSTOMS DERIVATIVE DEVELOPING COUNTRIES DOMESTIC CAPITAL DUE DILIGENCE ECONOMIC INTEGRATION EMERGING ECONOMY EMERGING MARKETS EMPLOYMENT EXPOSURE FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTIONS FIRM PERFORMANCE FIRM VALUATIONS FIRMS FOREIGN INSTITUTIONAL INVESTOR FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL CORPORATE GOVERNANCE GLOBAL PRIVATE SECTOR GLOBAL STANDARDS GLOBALIZATION GOVERNANCE ISSUES GOVERNMENT POLICY HARMONIZATION HOLDING HUMAN RELATIONSHIPS ID INDEPENDENT DIRECTORS INDIVIDUALS INSTITUTION INSTITUTIONAL INVESTOR INSTITUTIONAL SHAREHOLDER INSURANCE INTERNATIONAL BUSINESS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL STANDARDS IPO LIABILITY LICENSES LIMITED LISTED COMPANIES LISTED COMPANY LOAN LOCAL GOVERNMENT LOCAL INSTITUTIONS LTD. MAJORITY SHAREHOLDERS MANAGERS MARKETING MATERIAL MINORITY SHAREHOLDERS MUTUAL FUNDS OUTPUT OWNERSHIP STRUCTURES PARENT COMPANY PARTY PENSION PENSION FUNDS PRIVATE COMPANIES PRIVATIZATION PUBLIC CORPORATIONS PUBLIC MARKET QUERIES RESULT SALE OF A BUSINESS SALE OF PROPERTY SECURITIES SHARE MARKET SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDERS SOCIAL NETWORKS SOCIETIES SOCIETY STATE ENTERPRISES STOCK EXCHANGES STORE SUBSIDIARY SUPPLIER TELEPHONE TRACK RECORD TRADING TRANSACTION TRANSPARENCY TRUST FUND USER USERS
spellingShingle	ACCOUNTING ACCOUNTING RULES ASSET MANAGEMENT BARRIER BARRIER TO ENTRY BEST PRACTICES BOND BONDS BUSINESS ASSOCIATIONS BUSINESS ENTITIES BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS BUSINESS INTERACTION BUSINESS LAW BUSINESS LEADERSHIP BUSINESS OPERATION BUSINESS PARTNER BUSINESS PARTNERS BUSINESS PERSPECTIVE BUSINESS PRACTICES BUSINESS RELATIONSHIP BUSINESS RELATIONSHIPS BUSINESS STRATEGY BUSINESS UNIT BUSINESS UNITS BUSINESSES CAPACITY-BUILDING CAPITAL MARKET CHIEF EXECUTIVE COLLECTIVISM COMMERCIAL BANKS COMPANY COMPANY LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE PERFORMANCE CORPORATE SCANDAL CORPORATE SOCIAL RESPONSIBILITY CORPORATION CORPORATIONS COUNTRY TO COUNTRY CUSTOMS DERIVATIVE DEVELOPING COUNTRIES DOMESTIC CAPITAL DUE DILIGENCE ECONOMIC INTEGRATION EMERGING ECONOMY EMERGING MARKETS EMPLOYMENT EXPOSURE FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTIONS FIRM PERFORMANCE FIRM VALUATIONS FIRMS FOREIGN INSTITUTIONAL INVESTOR FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL CORPORATE GOVERNANCE GLOBAL PRIVATE SECTOR GLOBAL STANDARDS GLOBALIZATION GOVERNANCE ISSUES GOVERNMENT POLICY HARMONIZATION HOLDING HUMAN RELATIONSHIPS ID INDEPENDENT DIRECTORS INDIVIDUALS INSTITUTION INSTITUTIONAL INVESTOR INSTITUTIONAL SHAREHOLDER INSURANCE INTERNATIONAL BUSINESS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL STANDARDS IPO LIABILITY LICENSES LIMITED LISTED COMPANIES LISTED COMPANY LOAN LOCAL GOVERNMENT LOCAL INSTITUTIONS LTD. MAJORITY SHAREHOLDERS MANAGERS MARKETING MATERIAL MINORITY SHAREHOLDERS MUTUAL FUNDS OUTPUT OWNERSHIP STRUCTURES PARENT COMPANY PARTY PENSION PENSION FUNDS PRIVATE COMPANIES PRIVATIZATION PUBLIC CORPORATIONS PUBLIC MARKET QUERIES RESULT SALE OF A BUSINESS SALE OF PROPERTY SECURITIES SHARE MARKET SHAREHOLDER SHAREHOLDER ENGAGEMENT SHAREHOLDERS SOCIAL NETWORKS SOCIETIES SOCIETY STATE ENTERPRISES STOCK EXCHANGES STORE SUBSIDIARY SUPPLIER TELEPHONE TRACK RECORD TRADING TRANSACTION TRANSPARENCY TRUST FUND USER USERS Smith, David Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
geographic_facet	East Asia and Pacific China
relation	Private Sector Opinion;no. 26
description	Before taking advantage of the growing opportunities of the Chinese market, investors will do well to understand the strong influence of Chinese culture on the way businesses operate, how they govern themselves, and how they interact with each other. The author (David Smith) identifies two key cultural and sociological issues of particular interest guanxi (relationships and networks) and mianzi (face). He analyzes their most common implications for investors in areas such as related-party transactions, board composition and deliberations, and shareholder engagement.
format	Publications & Research :: Brief
author	Smith, David
author_facet	Smith, David
author_sort	Smith, David
title	Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
title_short	Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
title_full	Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
title_fullStr	Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
title_full_unstemmed	Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China
title_sort	guanxi, mianzi, and business : the impact of culture on corporate governance in china
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2012/09/16750630/guanxi-mianzi-business-impact-culture-corporate-governance-china http://hdl.handle.net/10986/17094
_version_	1764435146982817792

Guanxi, Mianzi, and Business : The Impact of Culture on Corporate Governance in China

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