Corporate Governance Research in Asian Countries: A Bibliometric and Content Analysis (2001–2021)

Indah Fajarini Sri Wahyuningrum (), Amin Chegenizadeh, Natasya Ghinna Humaira, Mochamad Arief Budihardjo and Hamid Nikraz
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Indah Fajarini Sri Wahyuningrum: Department of Accounting, Faculty of Economics, Universitas Negeri Semarang, Semarang 50229, Indonesia
Amin Chegenizadeh: School of Civil and Mechanical Engineering, Faculty of Science and Engineering, Curtin University, Perth, WA 6102, Australia
Natasya Ghinna Humaira: Environmental Sustainability Research Group, Universitas Diponegoro, Semarang 50275, Indonesia
Mochamad Arief Budihardjo: Environmental Sustainability Research Group, Universitas Diponegoro, Semarang 50275, Indonesia
Hamid Nikraz: School of Civil and Mechanical Engineering, Faculty of Science and Engineering, Curtin University, Perth, WA 6102, Australia

Sustainability, 2023, vol. 15, issue 8, 1-20

Abstract: Corporate failure suggests that weak corporate governance leads to frail institutions and exposes them to severe crises. Asian countries have faced financial crises in three different periods, most recently due to the COVID-19 pandemic. A crisis will trigger structural changes in corporate governance to enable firms to either respond to, or prevent, the reoccurrence of potentially similar events. The characteristic of corporate governance practice in Asian countries are also unique due to some institutional and informal factors. These will alter direction and future trend of research in corporate governance in Asian region. The objective of this study is to utilize a bibliometric analysis which focuses on research trends and themes, and citations (with additional inclusive visualization) and perform in-depth content analysis to trace the evolution and identify knowledge of corporate governance in Asian countries from 2001 to 2021. Following bibliometric analysis, a sample of 656 articles on corporate governance in Asian countries has been extracted and analyzed from the Scopus database. The results indicate that there is a growing of interest in corporate governance in Asian countries from 2001 to 2021. Eight major themes have been recognized: corporate governance, corporate social responsibility and financial performance, corporate strategy and performance, agency theory, corporate sustainability, audit and agency problems, firm size, and business ethics. Major findings, shortcomings, and directions for future research are also discussed in this study. In general, most cited articles related to corporate governance theme explain the importance of corporate governance in companies with the focus on preventing financial fraud, impact on earnings management, and cost of equity capital in the market and reporting methods.

Keywords: corporate governance; stakeholders; sustainability; Asian countries; bibliometric (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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