Capital Market Reform in Asia contains a selection of papers that capture the essence of capital market reform in the Asian region, including important lessons from the global financial crisis of 2007–2009. It points to the need for Asian economies to adapt their capital market development strategies to rebalance growth by increasing mobilization of Asian savings for Asian investment.
Capital Market Reform in Asia is derived from 11 round table conferences on Capital Market Reform in Asia, jointly organized by Asian Development Bank Institute (ADBI) and the Organization for Economic Co-operation and Development (OECD).
The volume charts the progress of capital market development in Asia after the 1997–1998 Asian financial crisis, providing insights into capital market reform and the new challenges that have arisen since the global financial crisis of 2007–2009, amidst reforms to the international financial architecture.
Chapter 8: Corporate Governance: An IOSCO Perspective*
Corporate Governance: An IOSCO Perspective*
Any discussion of corporate governance invariably involves a reference to the Organization for Economic Co-operation and Development (OECD) Principles of Corporate Governance.
By way of background, the OECD Principles were originally developed in 1999, with the OECD releasing its revised principles in 2004. Since their development, the significance of the principles to the development of corporate governance practices has been recognized by a number of international bodies. These have been endorsed by the Financial Stability Forum as one of the 12 key standards for financial stability.
The interest shown by the International Organization of Securities Commissions (IOSCO) in corporate governance, like so many regulatory reforms, finds its origins in financial frauds such as Parmalat. Following the Parmalat collapse ...