Corporate Governance in Asia 2011
Progress and Challenges
In 2003, the Asian Roundtable on Corporate Governance produced recommendations to improve corporate governance in Asia, based on the OECD Principles of Corporate Governance. 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. Included in this book are valuable insights into corporate governance rules and practices of listed companies in Asia, notably: shareholder rights, the protection of non-controlling owners, transparency and disclosure, as well as the role of company boards.
Obstacles to implementation
The lack of understanding of a number of concepts such as “material transactions”, “independent board member”, “fiduciary duty” and “related parties” was noted as a major obstacle for the effective implementation of these concepts.