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APEC SOM I on Corporate Governance February, 2001 Beijing

APEC SOM I on Corporate Governance February, 2001 Beijing. Stephen Cheung Peer Assistance Review Network PECC. Objectives. Key governance issues common to economies in East Asia Mechanisms for promoting corporate governance reforms Cooperation and coordination between economies

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APEC SOM I on Corporate Governance February, 2001 Beijing

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  1. APEC SOM IonCorporate GovernanceFebruary, 2001Beijing

  2. Stephen CheungPeer Assistance Review NetworkPECC

  3. Objectives • Key governance issues common to economies in East Asia • Mechanisms for promoting corporate governance reforms • Cooperation and coordination between economies • Key initiatives for promoting corporate governance

  4. Observations • Need for improvement • Different stage of development • Stealing is not acceptable in every culture

  5. Consultation Process • Market Participants • Analysts • Funds managers • Corporate Directors • Regulators

  6. Actions • A joint distance learning (video conference) with the World Bank Institute, 22-24 February 2001 • Beijing • Bangkok • Singapore • Manila • Washington

  7. Actions • The course is designed to highlight: • The importance of sound corporate governance practices at corporate and country levels • The economic, financial, and social rewards of sound corporate governance practices • The adoption of specific corporate governance practices by regulators and corporations

  8. Actions • Three objectives are to: • Understand the state of corporate governance systems in modern market economies • The implications of sound corporate governance systems • Acquire skills and techniques in implementing corporate governance improvements through the board of directors and regulators

  9. Actions: • Action learning approach • Interaction with different economies in Asia • Local case studies • Participants • Regulators • Corporate Directors • Academics

  10. Actions: • A working meeting in April, 2001 in Singapore • Codes of corporate governance • Survey on the individual Asian economies

  11. Survey • Specifically, we ask three questions • What elements of existing and planned regulatory arrangements in your economy align with the OECD principles? • In what areas and in what ways do you assess there is a need to modify, add, or remove elements of OECD principles • What elements of the OECD principles are judged to be inapplicable to your economy => Experience of implementation

  12. Actions • Corporate governance scoreboard • Measurement method on the soundness of corporate governance =>To be presented to APEC officials by the end of May 2001.

  13. SCORECARD FOR CORPORATE GOVERNANCE Commitment to CG Weight: 15% Score: Total Score 100% Board Governance Weight: 30% Score: Stockholder Rights Weight: 20% Score: Transparency Weight: 20% Score: Auditing Weight: 15% Score: Summary Results for Bank/Publicly-Listed Corporation: ______________________ Date: ______________________

  14. ~End~

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