Crisis and transformation of corporate governance models in Asia (In French)

Ji-Yong Lee

Cahiers du GREThA (2007-2019) from Groupe de Recherche en Economie Théorique et Appliquée (GREThA)

Abstract: The objective of this paper is to present the transformations of corporate governance in Asia\r\nsince the crisis of 1997. The analysis deals with 14 Asian countries during the period of 1997-\r\n2006. The important changes include the development of stocks markets, the new role of\r\nbanks and the rise of institutional investors. There is a incessant increase in the market\r\ncapitalization and the number of listed companies on the stock markets. Banks adjust to the new financial environment through diversification of their activities. The capital structure of listed companies is slowly diluted. The significant increase in the participation of institutional investors suggests a possible convergence to a model characterized by dispersed ownership. However, we will show the variety of ownership structure forms in this region.

Keywords: Corporate governance; Transformation of Asian corporate governance; Institutional investors; Asian Crisis. (search for similar items in EconPapers)
JEL-codes: G20 G34 N25 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:grt:wpegrt:2011-37

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