The International Convergence of Systems of Corporate Governance

Western versus Asian Laws on Corporate Governance

10.1093/oxfordhb/9780198743682.013.32 ◽

2015 ◽

Author(s):

Hideki Kanda

Keyword(s):

Corporate Governance ◽

Insider Trading ◽

The United States ◽

Corporate Law ◽

Legal Rules ◽

Accounting Rules ◽

International Convergence ◽

The Cost ◽

The Relationship

This chapter examines the issue of when laws do and do not converge in the field of corporate governance, with particular emphasis on the cost of enforcement and the role of enforcement in international convergence. Focusing on Western versus Asian laws on corporate governance, it considers when, how, and why legal rules change and whether transplantation of legal rules from Western countries has been successful. It also explores the relationship between enforcement and substantive legal rules, mainly by comparing laws in Japan and the United States. Finally, it discusses three areas relating to corporate governance: the regulation of insider trading, financial disclosure and accounting rules, and corporate law rules on governance.

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International Integration and Corporate Governance Practices in Russia

Handbook of Research on Global Business Opportunities - Advances in Business Strategy and Competitive Advantage ◽

10.4018/978-1-4666-6551-4.ch012 ◽

2015 ◽

pp. 239-267

Author(s):

Andrey Yukhanaev ◽

Thuyuyen Nguyen ◽

Dilek Demirbas ◽

Peter Galvin

Keyword(s):

Corporate Governance ◽

Institutional Environment ◽

Good Governance ◽

International Standards ◽

Corporate Board ◽

Public Companies ◽

Corporate Development ◽

Foreign Companies ◽

Governance Practices ◽

International Convergence

This chapter considers the institutional environment in Russia, its potential impact upon governance practices, and the attitudes of Russian executives towards the alignment of governance processes relative to international standards. Focusing on corporate board directorship, the research addresses the extent that the harmonization of governance to international standards may assist boards of directors to improve their corporate development. Using a survey questionnaire, the authors explore perceptions of directors of public companies concerning the challenges of corporate governance development in the country. The study illustrates unanimity among the respondents about the reforms needed for international convergence of corporate governance standards. The results reveal that institutional alignment with good governance principles will foster strategic corporate development in the Russian economy. The study offers insights to policymakers in terms of enhancing legitimacy of corporate governance in the Russian context and provides a perspective for executives of foreign companies considering investment in the country.

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