Corporate Governance In Asia Book Report

Length: 3 pages Sources: 1 Subject: Business Type: Book Report Paper: #16125411 Related Topics: Asia, Global Governance, Singapore, Corporate Strategy
Excerpt from Book Report :

¶ … Financial Regulatory Harmonization in East Asia

As globalization continues to evolve local economies, there has been increasing pressure put on East Asian nations to implement corporate governance reform. Many East Asian nations lack the restrictions and regulations seen in Western nations that provide for more responsible treatment of corporate activities that impact the health of businesses in that economy and attract foreign investment.. Moreover, the lack of corporate governance regulations have also been thought to have played a role in the 1997 Asian financial crisis, as there were not checks in place to curb corporate behavior that contributed to economic decline. In his 2010 article, "Financial Regulatory Harmonization in East Asia: Balancing Domestic and International Pressures for Corporate Governance Reforms," Richard W. Carney discusses how harmonization of international and domestic expectations of corporate governance in the region is possible.

The international community has long been putting pressure on East Asian economies to reform corporate governance and banking institution laws so that there is more


Organizations like the International Monetary Fund (IMF), the World Bank, Bank for International Settlements, Organization for Economic Co-operation and Development (OECD), and others have begun increasingly advocating certain recommendations for corporate governance reform based on what is assumed to be a standard of "best practices." These recommendations ask the East Asian economies to adopt stricter corporate governance regulations based on Western ideologies. Such recommendations are meant to help further protect foreign investors thus attracting more into the economy, increase market liquidity that lowers financing terms for new and existing firms, "reducing exposure to the actions of market participants outside the region, and reducing double-mismatch tendencies" (Carney, 2010). Ultimately, the recommendations are meant to make these economies more cohesive with other global economic structures.

Yet, many local businesses do not see the need to increase such corporate governance and thus often only make minor superficial changes to make it look like they are taking such issues seriously. In fact, nations like Japan, South Korea, and China have been slow to adopt any of the recommendations provided by international organizations for various reasons. In certain areas, a wealthy elite dominate over political and business practices, wishing not to disrupt corporate activities that have so far been favorable to their role and influence. Many of these nations have thus been quite slow to implement any of the recommendations at all. Carney (2010) breaks down the issues resulting in slow implementation of such economic reforms by specific nation.

He begins with Japan, which is a country where political objectives have long played…

Sources Used in Documents:


Carney, Richard W. (2010). Financial regulatory harmonization in East Asia: Balancing domestic and international pressures for corporate governance reforms. ADBI Institute. Web.

Cite this Document:

"Corporate Governance In Asia" (2015, April 27) Retrieved January 18, 2022, from

"Corporate Governance In Asia" 27 April 2015. Web.18 January. 2022. <>

"Corporate Governance In Asia", 27 April 2015, Accessed.18 January. 2022,

Related Documents
Corporate Governance Much Has Been
Words: 3011 Length: 12 Pages Topic: Government Paper #: 346997

Reliability & Validity The key will be to find reliability and validity. Reliability, of course, is the concept that if someone else does the same exact research in the same exact way, the research conclusions drawn will be close to if not entirely identical. Validity is similar in that the conclusions met have to be directly applied and ascertained based on the data that actually exists and not based on the

Corporate Governance of Commonwealth Bank: Australia's Commonwealth...
Words: 2179 Length: 8 Pages Topic: Business Paper #: 15843607

Corporate Governance of Commonwealth Bank: Australia's Commonwealth bank is a multinational bank with operations across the United States, United Kingdom, Asia, Fiji, and New Zealand. The bank provides various financial services including superannuation, broking services, investment, retail, business and institutional banking, and insurance. The financial institution is currently regarded as the country's second largest organization listed on the Australian Securities Exchange. Together with National Australia Bank, ANZ, and Westpac, Commonwealth bank

Corporate Governance: A Review of Literature What
Words: 6769 Length: 20 Pages Topic: Business Paper #: 61038991

Corporate Governance: A review of Literature What is Corporate Governance? Principles of Corporate Governance Theoretical foundations of corporate governance Agency theory Stewardship theory Stakeholder theory Post-Enron theories Corporate Governance: The changing trends Recent developments on regulatory front and research Corporate Governance: Relationship with market indicators Venture Capital Model: Impact on Corporate Governance Appendix I- Examples of Corporate Governing bodies This paper is a review of pertinent literature on corporate governance. Corporate governance addresses the control issues created due to the separation of ownership

Corporate Finance Corporate Governance and
Words: 4499 Length: 14 Pages Topic: Business Paper #: 18819564

Or that he is to make expenses on dropping pollution outside the quantity that is in the best welfare of the business or that is mandatory by law in order to add to the social objective of improving the atmosphere (Friedman, 1970). Corporate culture has been established as an administration tool. Corporate culture can aid to attain corporate objectives comprising profit enlargement. Advocates of corporate culture as a tool propose

Corporate Governance and Social Responsibility
Words: 3265 Length: 10 Pages Topic: Business Paper #: 92564365

Both proposals were consequently amended and eventually accepted by the SEC. The audit committee makes sure that the books aren't being cooked and that shareholders are properly informed of the financial status of the firm. Characteristically, the audit committee advocates the CPA firm that will audit the company's books, appraises the activities of the company's independent accountants and internal auditors, and reviews the company's internal control systems and its accounting

Corporate Governance and Social Responsibility
Words: 5027 Length: 16 Pages Topic: Business Paper #: 12778445

Additionally, it has been observed that whenever companies implement strategies of CSR, they do this not out of individual choice and desire, but as a result of imposed legislations. "All of these decisions are made under the mandatory legal rules embodied in employment and labor law, workplace safety law, environmental law, consumer protection law, and pension law. Such rules, because they often apply to all businesses, are not susceptible to