Subject category:
Economics, Politics and Business Environment
Published by:
Asia Case Research Centre, The University of Hong Kong
Length: 20 pages
Abstract
PetroChina, the largest oil and gas company in China, was made a showcase for sound corporate governance in China''s SOE''s. Its initial public offering (IPO) was part of the government''s plan to lay the groundwork for other large capital-starved SOE''s on the global capital market. In spite of the restructuring efforts, some analysts felt that the company was not yet close to where it needed to be in terms of international governance standards. The purpose of the case is to expose students to the range of issues relating to corporate governance with Chinese characteristics. In analysing China''s political and economic background, and PetroChina''s governance model, this case demonstrates that the corporate governance system in China offers limited protection for minority shareholders. There is a Spanish translation available (E202-009-1).
About
Abstract
PetroChina, the largest oil and gas company in China, was made a showcase for sound corporate governance in China''s SOE''s. Its initial public offering (IPO) was part of the government''s plan to lay the groundwork for other large capital-starved SOE''s on the global capital market. In spite of the restructuring efforts, some analysts felt that the company was not yet close to where it needed to be in terms of international governance standards. The purpose of the case is to expose students to the range of issues relating to corporate governance with Chinese characteristics. In analysing China''s political and economic background, and PetroChina''s governance model, this case demonstrates that the corporate governance system in China offers limited protection for minority shareholders. There is a Spanish translation available (E202-009-1).