Corporate Governance in Major Asian Economies and Canada - A Critical Study

Abstract

Good governance is crucial for real growth of any organization. Hence its actual implementation in the major Asian economies (China, Japan and India) is critically reviewed with reference to some international benchmark practices (Singapore and Canada). While Japan’s seems to be lagging behind India in current evaluations, China’s score is quite low mainly due to some concerns on regulatory risk and inadequate implementation, though there are some good provisions in its current regulations. India on the other hand has made substantial progress ever since the SEBI regulations of 2000 but the implementation remains sketchy especially in PSUs. However with reference to the Asian and world benchmark codes, definite challenges remains for these major economies particularly in practice and implementation of the best practices. As better governance is a dynamic process of evolution, further refinements, better implementation and oversight needs to be done to better the impact for overall Business Enterprise Governance.