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| Author: | Lu, Jinping Yao, Shuren |
| Title: | Correction of equity behaviors of owners of enterprises from the financial perspective (original in Chinese) |
| Journal: | Reform (c)
1994 : 4, p.68-72 |
| Index terms: | COMPANY OWNERSHIP COMPANIES MANAGEMENT CHINA |
| Language: | chi |
| Abstract: | The "conversion of financial appropriation into bank loans" promulgated by the State Council in 1984 entered China's investment system into the 2nd stage. But, because of the imperfect credit mechanism, market results stood in striking contrast with desired ones. As a new side-effect, equity behaviors of owners were distorted in that enterprises had to pay both loans and interests. Participation of owners in the distribution of profits with their equity and debt produced a serious consequence. |
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