Changes of Cybersecurity Legal System in East Asia: Focusing on Comparison Between Korea and Japan

Russia and East Asia Challenges

World Economy and International Relations ◽

10.20542/0131-2227-2016-60-3-58-71 ◽

2016 ◽

Vol 60 (3) ◽

pp. 58-71

Author(s):

A. Fedorovskii

Keyword(s):

Middle Class ◽

East Asia ◽

Legal System ◽

East Asian ◽

Social Institutions ◽

Asia Pacific ◽

Asian Countries ◽

The Pacific ◽

Pacific Area

The article deals with the prospects for Russia’s “pivot to the East” taking into account main chances as well as risks in the context of growing challenges in East Asia. The author stresses that national and regional misbalances in East Asia are the results of the dynamic development of East Asian countries during the last 15 years. “Middle class trap” is at the agenda as the main common problem in China and ASEAN member countries. The analysis focuses also on such issues as broad scaled corruption and state-controlled legal system, quality of political, social institutions and social lifts, role of nationalism and culture. Regional misbalances in infrastructure and R&D as well as the crisis of regional institutions are characterized as new challenges to integration trends in East Asia and Asia-Pacific area in general. According to the author’s view, there are three different types of policies to meet the domestic challenges and to overcome “middle class trap”: Japanese, South Korean and Chinese. Prime Minister Ikeda’s “income-doubling plan” accompanied by public activity is described as an effective reform-oriented policy. South Korea’s transition from dictatorship to democratic society and more flexible economy is another type of positive reform policy. According to China’s modern domestic strategy, a lot of attention is paid to administrative measures against corruption, modification of social policy, reforms of banks, etc. At the same time, public activities and legal system, in spite of some improvements, are still under rigid administrative control. Meanwhile, the role of law will be crucial factor of successful development of East Asian countries at the stage of “middle class economy”. To a large scale, the prospects for regional integration depend on growing creative role of China (for example, investments into regional infrastructure and establishment of special bank, initiations of the Asia-Pacific Free Trade Area). At the same time, China will continue cooperation and dialogue with other countries, first of all with the USA. ASEAN members increase their activity to improve sub-regional cooperation and relations with United States and Japan in order to couterbalance China’s influence in East Asia. Finally, the author describes Russia’s policy towards East Asia and the Pacific, including brief history, main trends and key priorities at the current stage. “Free Vladivostok port” and some other initiatives to realize more flexible economic strategy towards East Asia and Pacific will give opportunity for Russia to promote its integration into the Pacific Area. Transition of Russia’s export structure from resources and energy to innovation goods and services is at the agenda.

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Ownership structure and expropriation in stock exchange listed firms

Corporate Ownership and Control ◽

10.22495/cocv3i3p6 ◽

2006 ◽

Vol 3 (3) ◽

pp. 79-87 ◽

Cited By ~ 2

Author(s):

Yoser Gadhoum ◽

Jean-Pierre Gueyié ◽

Mohamed Hentati

Keyword(s):

Corporate Governance ◽

East Asia ◽

Legal System ◽

Ownership Structure ◽

Stock Exchange ◽

The Other ◽

Listed Firms ◽

Large Shareholder ◽

The U.S ◽

Unlisted Firms

This paper analyses firms’ ownership structure and corporate governance in seven countries, with an emphasis on stock exchange listed firms. This focus is, in our view, important because these firms are more representative of the economies of countries included in our sample. Our results indicate that in Canada, Europe and East-Asia, ownership structure is highly concentrated. Most of the firms are controlled by at least one large shareholder who reinforces his or her control with devices such as multiple voting right shares, pyramidal structures, cross ownership, and reciprocal holding. In the U.S., firms’ ownership structure is more diffuse. The use of means to separate ownership from control is less present and the control of the large shareholder is lower than in the other sample countries. Being listed on the stock exchange can explain the firm’s ownership structure. Exchange-listed firms, which are generally larger in size than unlisted firms, tend to have more diffused ownership. Further, the legal system hypothesis formulated by La Porta, Lopez-De-Silanes, Shleifer & Vishny (1998) does not hold for the countries we analysed

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