Enacting the rules of global finance: sovereign wealth funds and the promotion of corporate governance reform

Michael Fini () and Lena Rethel ()

Asia Europe Journal, 2013, vol. 11, issue 2, 163-178

Abstract: In the wake of the financial crises of the last two decades, the promotion of corporate governance reform has emerged as a priority concern of the international financial community. This paper draws attention to the role played by Sovereign Wealth Funds (SWFs) in this process. It shows that SWFs’ enactment of a common set of shareholder-oriented corporate governance reforms has not solely been driven from the ‘outside in’—i.e. conforming to prevailing global financial norms and pressures. Indeed, various SWFs are in fact attempting to change financial best practice from the ‘inside out’ by promoting a transformative shareholder-value model of corporate governance throughout the companies they hold in their investment portfolios. To better elucidate the dynamics of this process, this paper looks at the experience of two SWFs in Asia and Europe. More specifically, it will explore the corporate governance agendas of Norway’s Government Pension Fund-Global and Malaysia’s Khazanah Nasional Berhad. Copyright Springer-Verlag Berlin Heidelberg 2013

Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10308-013-0348-4 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:asiaeu:v:11:y:2013:i:2:p:163-178

Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10308/PS2

DOI: 10.1007/s10308-013-0348-4

Access Statistics for this article

Asia Europe Journal is currently edited by Ulrich Volz and Lay Hwee Yeo

More articles in Asia Europe Journal from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().