The OECD Principles of Corporate Governance in Emerging Markets: A Successful Example of Networked Governance?
Mark Fenwick, Steven Van Uytsel and Stefan Wrbka (eds.), Networked Governance, Transnational Business and the Law, Berlin: Springer, 2014, Forthcoming
8th Annual Kyushu University Law Conference, 10-11 February 2013
26 Pages Posted: 13 Feb 2013 Last revised: 9 Dec 2013
Date Written: March 31, 2013
The OECD Principles of Corporate Governance are a networked form of governance predominantly aimed at the law-makers and firms of emerging markets. This chapter discusses whether the approach of the OECD Principles can be regarded as a success. Our analysis provides a mixed response. While features of networked governance are clearly visible in the drafting and operation of the Principles, the practical effectiveness may be hindered by the lack of well-functioning local institutions. Moreover, while appreciating that the OECD has engaged in activities such as regional roundtables in order to take account of the local context, the Principles themselves are based on the corporate governance model of the OECD member countries not perfectly suitable for emerging markets. Recent events also point towards scepticism of whether adoption of the Principles can be seen as an effective way to prevent future financial crises.
Keywords: corporate governance, company law, emerging markets, emerging economies, networked governance, trust
JEL Classification: F63, G34, K22, M14, O16
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
The Board of Directors of Public Companies: A Comparative Analysis of the Corporate Governance Framework in the State of Qatar and Australia, Measured Against the OECD Principles of Corporate Governance