Why Corporate Governance is So Important to China - Eric Jackson - Tech and China - Forbes: "Corporate governance has to do with how organizations are run.� Organizations with proper corporate governance have accountability and transparency.� People in authority at those organizations know that their actions will be seen and judged by others.� Therefore, those leaders are more likely to act in ways that benefit the organization’s stakeholders.� They are also less inclined to act in ways that benefit themselves personally at the expense of the organization.
China has always been a country that celebrates hard work and success in business.� To succeed in China, the winning companies face enormous competition domestically to get to the top and stay there.� They are generally not able to be incompetent or corrupt and succeed in the long-term.
But there is a growing crisis in China involving bad corporate governance that needs to be addressed immediately in order to prevent a major economic crisis in the future."
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