Resorting to the immensely state-centric international legal system to regulate corporate human rights abuses is often viewed as inadequate. Among many proposals aiming at filling the international regulatory gaps, imposing international human rights obligations directly on corporations is a bold one, which, due to profound doctrinal and practical challenges, is yet to be materialized. However, state-owned enterprises (SOEs), given their prima facie “state–business nexus” that blurs the traditional public–private divide, might provide a renewed opportunity to push forward the “direct international corporate accountability” campaign. This study investigates whether SOEs represent a golden chance for direct corporate accountability in the international legal regime. This study provides a legal analysis supported by case law, and by comparative and empirical research when appropriate. After providing a definitional account of SOEs, it examines the legal status of SOEs under international law. Then, in the reverse direction, it proceeds to explore if the state–business nexus of SOEs as non-state actors could render the argument toward direct international corporation accountability more convincing. Major findings reveal that SOEs, to a limited extent, represent a renewed opportunity to rethink direct corporate accountability under international law.
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Introduction China was the largest recipient of inbound direct investment and the third largest source of outbound direct investment in 2014. 1 As China’s economy has indivisible relationship with state-owned enterprises ( soe s), Chinese soe s may have a tangible influence on the inbound
Introduction It is well known that despite three decades of extensive state reform and privatization, various vehicles of governmental capital, in particular state-owned enterprises ( soe s), remain an important economic force in the global economy. 1 In 2005, there was no single soe among
Benoit Mayer, Mikko Rajavuori and Mandy Meng Fang
-based mechanisms would face in China’s unique political and economic circumstances, which are characterized by the presence of State-Owned Enterprises with little appetite for market-based incentives intruding into their key sectors. 16 Whether or not China’s market-based mechanism will be a useful tool in
This article examines the reception of Western corporate governance models and standards into the Chinese system of corporate governance. It investigates how China has adapted these models to fit in with its political, economic, and cultural norms in relation to its state owned enterprises (SOEs), a large number of which are now listed in onthe Fortune Global 500 list. Overall, the study highlights that firstly, the importance of culture in the shaping and functioning of human behavior as well as that of institutions, and in their subsequent path dependence; and secondly the limited impact of property rights, minority shareholder rights, and financial markets as arbiters of the destination of investment funds.
Working Class Formation in Taiwan: Fractured Solidarity in State-Owned Enterprises, 1945–2012. Basingstoke: Palgrave Macmillan. xxi + 247 pp., isbn 978-1137404763, $100 (hb). Taiwan today is a fully competitive democracy with secure civil liberties, a beacon to Asia and the world. It is easy
Giulio Alvaro Cortesi
, which, as it is often considered, lies at a juncture between public international law and commercial law. In this context, the treatment of State-owned enterprises, which possess a unique hybrid nature, is paradigmatic of the evolution of international investment law. As we will see, some tribunals have
Mohammed Evren Tok, Damilola S. Olawuyi and Cristina D’Alessandro
in the Gulf In the Gulf region and in the mena in general, finite natural resources have played a critical role in state-building and economic development. Public-private enterprises and large state-owned enterprises have always been the bulk of the business sector. In this regional context, it