"This book provides an excellent sampler of corporate governance reforms in the Southeast Asian countries, reaching similar conclusions for each country. Most writers agree that it is not that the regulations and laws do not offer good guidance on corporate governance in Southeast Asia, but that the business infrastructure does not provide a supportive environment for implementing these rules. For example, a patriarchal culture, which embraces respect at all costs for one's seniors, has to some degree inhibited the punishment mechanism and prevent fair competition. Further, corruption and bribery have become the plague of Asian financial markets. All these issues pose challenges for Southeast Asian financial market participants in practising good corporate governance" (Bulletin of Indonesian Economic Studies
"Overall, the contributors examine not only the specific measures adopted by the Southeast Asian nations, but also the social, economic, and political dimensions of corporate governance reforms in those countries. Several of the studies are carried out from a regional or global perspective. Considering that the literature on comparative corporate governance on Southeast Asian countries is extremely limited, the value of this book is obvious" (Asian Journal of Comparative Law).
This multi-disciplinary volume provides a critical examination of corporate governance reform in Southeast Asia especially after the Asian financial crisis in 1997. The weaknesses in the corporate sector, such as poor investment structure, weak legal and accounting systems, faulty financial practices, questionable political interventions, are some of the pertinent issues raised by the authors, who include legal specialists, corporate practitioners, economists, and political scientists. Policy measures to improve corporate transparency, institutional accountability, and fiscal prudence are also proposed. The volume provides interested readers and policy-makers in Southeast Asia with the most current research and policy options on corporate governance reform, and advocates more committed and effective governance changes in the future.