Independent Directors in Asia

Independent Directors in Asia
Author: Dan W. Puchniak
Publisher: Cambridge University Press
Total Pages: 638
Release: 2017-11-02
Genre: Law
ISBN: 1316846091

The rise of the independent director in Asia is an issue of global consequence that has been largely overlooked until recently. Less than two decades ago, independent directors were oddities in Asia's boardrooms. Today, they are ubiquitous. Independent Directors in Asia undertakes the first detailed analysis of this phenomenon. It provides in-depth historical, contextual and comparative perspectives on the law and practice of independent directors in seven core Asian jurisdictions (China, Hong Kong, India, Japan, Singapore, South Korea, Taiwan) and Australia. These case studies reveal the varieties of independent directors in Asia, none of which conform to its original American concept. The authors develop a taxonomy of these varieties, which provides a powerful analytical tool for more accurately understanding and effectively researching independent directors in Asia. This new approach challenges foundational aspects of comparative corporate governance practice and suggests a new path for comparative corporate governance scholarship and reform.

Independent Directors in Asia

Independent Directors in Asia
Author: Souichirou Kozuka
Publisher:
Total Pages: 19
Release: 2018
Genre:
ISBN:

Independent director requirements have spread throughout Asia, generating diverse definitions, enforcement patterns and cadres of directors (Part I). Yet the proliferation itself, and some of its features, provide some support for convergence in corporate governance, especially in function rather than form. In particular, seemingly influenced by proposals from Australian reformers in the early 1990s, the definition of independence has departed from US and early UK roots by excluding (variously defined) substantial shareholders, except until recently Singapore. This fits with the historical reality of “blockholders” in Austral-Asian corporate governance, making a key corporate governance concern the tension between large and minority shareholders, rather than the traditional Anglo-American tension between dispersed shareholders and professional managers. Given the looser definition in Singapore, the function of independent directors there has extended to mediating disputes among family blockholders. This may also be found in India, for example, where enforcement has been problematic until recently (Part II). The comparative analysis further suggests that significant “legal transplants” are occurring, but with complex features and motivations (Part III). We find elements of Miller's cost-saving transplants (as perhaps in Hong Kong), entrepreneurial transplants (recently in Japan), legitimacy-enhancing transplants (Singapore) or even sometimes externally-dictated transplants (Korea, after the Asian Financial Crisis). We also see elements of Frankenberg's “IKEA” theory of legal transplants, whereby concepts are de-contextualised and stored in a global intellectual reservoir, and then taken out and reassembled - for better or worse - by the importing jurisdiction (Part III). Given these patterns, independent directors will probably continue to be the norm in Asian countries, notwithstanding growing academic critiques. It is also likely that the varieties of independent directors found among jurisdictions will not diminish significantly (Part IV).

Corporate Governance in Asia A Comparative Perspective

Corporate Governance in Asia A Comparative Perspective
Author: OECD
Publisher: OECD Publishing
Total Pages: 447
Release: 2001-08-01
Genre:
ISBN: 9264189300

Poor corporate governance was identified as one of the root causes of the recent Asian financial crisis. The absence of effective disciplines on corporate managers, coupled with complicated and opaque relationships between corporations, their owners ...

Corporate Governance in Asia

Corporate Governance in Asia
Author: Bruce Aronson
Publisher: Cambridge University Press
Total Pages: 437
Release: 2019-01-17
Genre: Business & Economics
ISBN: 110842077X

Provides a comparative overview of corporate governance frameworks and practices in major Asian countries.

Transforming Corporate Governance in East Asia

Transforming Corporate Governance in East Asia
Author: Curtis Milhaupt
Publisher: Routledge
Total Pages: 347
Release: 2008-06-18
Genre: Business & Economics
ISBN: 1134106157

Over the past ten years, the corporate governance environment in East Asia has undergone a significant transformation. The Asian Financial crisis, together with Japan‘s long economic malaise, undermined confidence in the corporate structures, governance practices, and regulatory oversight of firms in the region. Since that time, each of the countri

Corporate Governance in Asia 2011 Progress and Challenges

Corporate Governance in Asia 2011 Progress and Challenges
Author: OECD
Publisher: OECD Publishing
Total Pages: 90
Release: 2011-03-10
Genre:
ISBN: 9264096795

In 2003, the Asian Roundtable on Corporate Governance produced recommendations to improve corporate governance in Asia. This report summarises the results of a stocktaking exercise to determine progress made to date and the challenges remaining in the implementation of these recommendations.

Asian Corporate Governance

Asian Corporate Governance
Author: Toru Yoshikawa
Publisher: Cambridge University Press
Total Pages: 90
Release: 2018-03-22
Genre: Business & Economics
ISBN: 1108572650

This Element aims to achieve three objectives. First, it explores some key institutional characteristics of several Asian economies that are relevant to corporate governance practices. Second, it reviews corporate governance codes or rules in those economies and examines levels of requirements in terms of formal rules. Third, this Element looks at recent trends related to corporate governance such as executive compensation and a proportion of independent directors on boards of large listed firms.