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Title: When Marx borrows from Smith : the ESOP in China
Authors: Chiu, WCK 
Huang, X 
Lu, HL
Issue Date: 2005
Publisher: Routledge, Taylor & Francis Group
Source: Journal of contemporary China, 2005, v. 14, no. 45, p. 761-772 How to cite?
Journal: Journal of contemporary China 
Abstract: The employee stock ownership plan (ESOP), a capitalist practice, was borrowed for the purpose of rescuing and even consolidating socialist state-owned enterprises during the drive in China to reform ownership. More precisely, ESOP was implemented to bail out failing firms, raise funds, increase work motivation, reduce agency costs, and promote industrial democracy. The findings of a case study of three Chinese state-owned enterprises suggest that some short-term goals were basically achieved, but the accomplishment of the other long-term goals was somewhat problematic. Based on our initial findings, recommendations are put forward for future research and practice.
ISSN: 1067-0564
EISSN: 1469-9400
DOI: 10.1080/10670560500206850
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