Corporate governance, privatisation.
Masters level programmes, with particular focus on corporate governance, privatisation, and organizational development.
Yutong Bus is a real and highly publicized case in China. It is a listed company carved out from a state-owned enterprise (SOE), Yutong Group. Later the management successfully bought out Yutong Group and thus indirectly controlled the company. The deal transformed Yutong Group from a SOE to a private company. The management was innovative in pushing through the management buy-out (MBO), but politically, it created a public outcry about the loss of state-owned assets. The key issue here is the selection of state owned enterprises suitable for privatization and, more importantly, the determination of selling price. In China “the market for corporate control is still lagging behind” (Shanghai Stock Exchange).
Students would be expected to gain an understanding of recent economic reform in China, Corporate Governance in the Chinese context and wider issues associated with privatization and MBOs.
Teaching note.
