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Cited by 959

The DOI matches its Crossref record; 118 of the 118 references it cites were found in a registry or an index.

Corporate Governance in Asia: A Survey

Open access
Claessens, Stijn, Fan, Joseph P. H.·2002·International Review of Finance
DOI 10.1111/1468-2443.00034
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Abstract

Corporate governance has received much attention in recent years, partly due to the Asian financial crisis. We review the literature on corporate governance issues in Asia to develop region‐specific and general lessons. Much attention has been given to poor corporate sector performance, but most studies do not suggest that Asian firms were badly run. The literature does confirm the limited protection of minority rights in Asia, allowing controlling shareholders to expropriate minority shareholders. Agency problems have been exacerbated by low corporate transparency, associated with rent‐seeking and relationship‐based transactions, extensive group structures and diversification, and risky financial structures. The controlling shareholder bears some of agency costs in the form of share price discounts and expenditures on monitoring, bonding and reputation building. The Asian financial crisis further showed that conventional and alternative corporate governance mechanisms can have limited effectiveness in systems with weak institutions and poor property rights. Overall, the understanding of the determinants of firm organizational structures, corporate governance practices and outcomes remains limited, however.

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Metadata

Authors
Claessens, S., & Fan, J. P. H.
Venue
International Review of Finance
Publisher
Wiley
Published
2002-06
Volume
3
Issue
2
Pages
71-103
ISSN
  • 1369-412X (ISSN-L)
  • 1468-2443
DOI
10.1111/1468-2443.00034
OpenAlex
W3123085623
Cited by
959
References
118
FWCI
35.21
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Corporate Governance in Asia: A Survey. https://app.cochat.ai/papers/10.1111/1468-2443.00034
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Claessens, S., & Fan, J. P. H. (2002). Corporate Governance in Asia: A Survey. International Review of Finance. https://doi.org/10.1111/1468-2443.00034

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