Reasons And Performance Of Industrial Institutional Change

Although CPA industry has come into existence in China for only 20 years, it has become one of the most important sectors in Chinese market economy and draws much attention from society. During these years, many institutional changes of the industry took place, such as CPA' social status and functions, the system of its property rights, the market structure and economic performance. These provided precious history materials for the study on the institutional change of CPA industry. As we know, CPA is a product of market economy. So the process of its institutional change is also the process of the development of Chinese market economy. It provides useful theories and evidence for the study on industrial economics and transitional economics. This dissertation makes an exhaustive explanation about its history, internal drivers and performance of the institutional change of CPA industry in order to disclose the factors inducing the institutional changes. These factors are CPA contracts, property rights, state, ideology and so on.This is a positive study. There are four parts all together, divided into eight chapters.Part one introduces the study background and analysis framework. Combining Professor North' s theory of institutional change with Chinese characteristics, Part two constructs a four-dimension analysis model, including contract-dimension, property- dimension, state-dimension and ideology- dimension, so as to analyze the internal drivers of the change. Part three studies the performance of the change. Apart from the market structure and economic performance, the concept of participant performance is put forward to inspect other performance of the change. Part four sums up the conclusion and limitations of this research. Firstly, reform and open policy provides the initiative demand of CPA' s contract in China. The development of CPA' contract became an important driver of the change. Secondly, CPA' s property rights is a main factor of the change. Thirdly, It is a government-driven institutional change process. Fourthly, ideology is a save and stable mechanism in the change process, and the high official' s ideology also plays an important role. Fifthly, the concentration ratio of CPA market and the level of its profit are both rising up during these years. Participants, such as government, investors and CPA, have got benefits from the change by different degree.