Matches in SemOpenAlex for { <https://semopenalex.org/work/W3204263509> ?p ?o ?g. }
Showing items 1 to 82 of
82
with 100 items per page.
- W3204263509 abstract "As China's economy keeps slowing down and the number of financially distressed companies and non-performing loans keep increasing, Chinese government and courts have slowly come to realise that current regime for resolving financial distress of state-owned enterprises (‘SOEs’) – which mostly consists of avoiding the use of the Enterprise Bankruptcy Law (‘EBL’) and employing various private and state-led alternative enforcement mechanisms instead – is insufficient. It became clear that it may be necessary to permit more market-driven debt resolution, enforce creditors’ rights where possible, and allow inherently inefficient, insolvent companies to liquidate in order to restart the economy by enabling the use of scarce resources by most efficient actors, and by providing more predictability and protection to credit-providers who may then, as literature suggests, provide greater amount of cheaper credit. In response, China’s Central Economic Work Conference declared in December 2015 that tackling underproductivity in the SOEs is one of the five big national goals for 2016. This paper focuses on the implementation of one strand of the resulting reforms, namely a push for stricter enforcement of the EBL to deal with SOEs with large amounts of debt which would be unable to survive without state financial support – commonly known as “zombie companies” (jiangshiqiye, 僵尸企业). The main focus is on the central and local governments’ initiatives and examples of how “zombie companies” have been resolved in the first nine months of the new approach. It appears that although the reform started with a lot of vigour, the determination of local governments has been weakened in recent months, with return of previously discredited bankruptcy-avoidance techniques which, ultimately, harm the economy and prevent the reform from achieving its goal of making the SOEs more efficient and so strengthening the whole economy. The causes for this reversal and its likely impact are discussed at the end in the context of the existing data and new insights from author’s interviews with practitioners, policy-makers and think- tanks in China and abroad." @default.
- W3204263509 created "2021-10-11" @default.
- W3204263509 creator A5082244077 @default.
- W3204263509 date "2016-01-01" @default.
- W3204263509 modified "2023-09-27" @default.
- W3204263509 title "Hesitant Enterprise Bankruptcy Law Reform: A Missed Opportunity to Resolve “Zombie Companies”?" @default.
- W3204263509 doi "https://doi.org/10.2139/ssrn.3826246" @default.
- W3204263509 hasPublicationYear "2016" @default.
- W3204263509 type Work @default.
- W3204263509 sameAs 3204263509 @default.
- W3204263509 citedByCount "0" @default.
- W3204263509 crossrefType "journal-article" @default.
- W3204263509 hasAuthorship W3204263509A5082244077 @default.
- W3204263509 hasConcept C10138342 @default.
- W3204263509 hasConcept C120527767 @default.
- W3204263509 hasConcept C138885662 @default.
- W3204263509 hasConcept C144133560 @default.
- W3204263509 hasConcept C144446859 @default.
- W3204263509 hasConcept C159091798 @default.
- W3204263509 hasConcept C162324750 @default.
- W3204263509 hasConcept C17744445 @default.
- W3204263509 hasConcept C190253527 @default.
- W3204263509 hasConcept C191935318 @default.
- W3204263509 hasConcept C199539241 @default.
- W3204263509 hasConcept C2778137410 @default.
- W3204263509 hasConcept C2779777834 @default.
- W3204263509 hasConcept C2780262971 @default.
- W3204263509 hasConcept C34447519 @default.
- W3204263509 hasConcept C38652104 @default.
- W3204263509 hasConcept C41008148 @default.
- W3204263509 hasConcept C4163816 @default.
- W3204263509 hasConcept C41895202 @default.
- W3204263509 hasConcept C504631918 @default.
- W3204263509 hasConcept C73283319 @default.
- W3204263509 hasConceptScore W3204263509C10138342 @default.
- W3204263509 hasConceptScore W3204263509C120527767 @default.
- W3204263509 hasConceptScore W3204263509C138885662 @default.
- W3204263509 hasConceptScore W3204263509C144133560 @default.
- W3204263509 hasConceptScore W3204263509C144446859 @default.
- W3204263509 hasConceptScore W3204263509C159091798 @default.
- W3204263509 hasConceptScore W3204263509C162324750 @default.
- W3204263509 hasConceptScore W3204263509C17744445 @default.
- W3204263509 hasConceptScore W3204263509C190253527 @default.
- W3204263509 hasConceptScore W3204263509C191935318 @default.
- W3204263509 hasConceptScore W3204263509C199539241 @default.
- W3204263509 hasConceptScore W3204263509C2778137410 @default.
- W3204263509 hasConceptScore W3204263509C2779777834 @default.
- W3204263509 hasConceptScore W3204263509C2780262971 @default.
- W3204263509 hasConceptScore W3204263509C34447519 @default.
- W3204263509 hasConceptScore W3204263509C38652104 @default.
- W3204263509 hasConceptScore W3204263509C41008148 @default.
- W3204263509 hasConceptScore W3204263509C4163816 @default.
- W3204263509 hasConceptScore W3204263509C41895202 @default.
- W3204263509 hasConceptScore W3204263509C504631918 @default.
- W3204263509 hasConceptScore W3204263509C73283319 @default.
- W3204263509 hasLocation W32042635091 @default.
- W3204263509 hasOpenAccess W3204263509 @default.
- W3204263509 hasPrimaryLocation W32042635091 @default.
- W3204263509 hasRelatedWork W1532659389 @default.
- W3204263509 hasRelatedWork W194439934 @default.
- W3204263509 hasRelatedWork W1983850637 @default.
- W3204263509 hasRelatedWork W2009554888 @default.
- W3204263509 hasRelatedWork W2042431532 @default.
- W3204263509 hasRelatedWork W2118019626 @default.
- W3204263509 hasRelatedWork W2155635443 @default.
- W3204263509 hasRelatedWork W2192134392 @default.
- W3204263509 hasRelatedWork W2491972896 @default.
- W3204263509 hasRelatedWork W2759130173 @default.
- W3204263509 hasRelatedWork W2768164854 @default.
- W3204263509 hasRelatedWork W2794874104 @default.
- W3204263509 hasRelatedWork W2990332558 @default.
- W3204263509 hasRelatedWork W3014449107 @default.
- W3204263509 hasRelatedWork W3122216963 @default.
- W3204263509 hasRelatedWork W3123149979 @default.
- W3204263509 hasRelatedWork W3123945920 @default.
- W3204263509 hasRelatedWork W3125831513 @default.
- W3204263509 hasRelatedWork W3162982770 @default.
- W3204263509 hasRelatedWork W3121274675 @default.
- W3204263509 isParatext "false" @default.
- W3204263509 isRetracted "false" @default.
- W3204263509 magId "3204263509" @default.
- W3204263509 workType "article" @default.