Sinopec Corporation of China - Setting Standards in Corporate Governance

Sinopec Corporation of China - Setting Standards in Corporate Governance
Case Code: CGOV003
Case Length: 20 Pages
Period: 2002 - 2003
Pub Date: 2005
Teaching Note: Not Available
Price: Rs.300
Organization: Sinopec Corporation
Industry: Petroleum & Chemical
Countries: China
Themes: Coporate Governance
Sinopec Corporation of China - Setting Standards in Corporate Governance
Abstract Case Intro 1 Case Intro 2 Excerpts

Abstract

This case discusses the corporate governance practices of Sinopec Corporation, the largest petrochemical company in China. Sinopec had won several global awards and recognition for its sound corporate governance practices. The case describes in detail Sinopec's corporate structure that centralized decision-making and delegated authority to various management levels. It also explains how the structure promoted corporate fairness, transparency, and accountability. The case also examines other issues in corporate governance including executive compensation plans, shareholders' general meeting and board meeting, and describes their powers, functions and responsibilities. The case also describes the roles and responsibilities of the chairman of the board of directors, the chairman of the supervisory committee, and the independent directors.

Issues

The case is structured to achieve the following teaching objectives:

  • Examine the best corporate governance practices followed by leading companies like Sinopec

Contents

Keywords

corporate governance, Sinopec Corporation, petrochemical, China, Sinopec, global awards, recognition, corporate structure, centralized, decision-making, delegated authority, various management levels, promoted corporate fairness, transparency, accountability, executive compensation plans, shareholders' general meeting, board meeting, powers, functions, responsibilities, roles, responsibilities, chairman, board of directors, supervisory committee, independent directors

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