Corporate governance is emphasized in Chinese banks, and standards are high. Boards of supervisors and boards of directors combine German and Anglo-American models. Directors are competent professionals with finance backgrounds, but composition of boards lacks diversity. Senior management is dedicated, professional, and competent. Incentive structure is radically different from Anglo-American counterparts, resulting in closer alignment of principal and agent. Strong work ethic exists among staff. Corporate culture is hierarchical, and is risk averse. Organizational structure is rigid.
Keywords: corporate governance, board of supervisors, board of directors, management, principal and agent problem, incentive structure, corporate culture, risk averse, professional, organizational structure
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