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

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  • Ji-Yong LEE

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.

Suggested Citation

  • Ji-Yong LEE, 2011. "Crisis and transformation of corporate governance models in Asia (In French)," Cahiers du GREThA (2007-2019) 2011-37, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    • Handle: RePEc:grt:wpegrt:2011-37
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    File URL: http://cahiersdugretha.u-bordeaux.fr/2011/2011-37.pdf
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    More about this item

    Keywords

    Corporate governance; Transformation of Asian corporate governance; Institutional investors; Asian Crisis.;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East

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