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This research examines the role of Chinese Communist Party organizations in corporate governance and decision-making in firms.

Communist party organizations in Chinese firms

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Review of CCP's influence on corporate governance in China, suggesting implications for investment and agency conflicts.

This research examines the role of Chinese Communist Party organizations in corporate governance and decision-making in firms.
Analyzed ∼3,000 corporate charters of the largest listed firms from 2010 to 2025
Reviewed post-2015 legal changes including the 2023 Company Law
Utilized machine-based classification to differentiate between symbolic and authoritative Party references.
Developed an ownership–control framework to differentiate state ownership from political control
Identified implications for investment strategies and agency conflicts within firms
Explained the divergence of Chinese corporate governance from Western practices.

Conyon et al. (2026) studied this question.

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