An Introduction to Adaptive Efficiency and Corporate Governance

Zhang, Lin

doi:10.1007/978-1-4614-1281-6_1

Lin Zhang²

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Abstract

The issue of corporate governance has gained unprecedented attention in the international community after the ravages of the Asian financial crisis. In recent years, laying down the more sophisticated governance guidelines has become a vibrant campaign with the favour and participation of various interested groups: academics, media, regulatory authorities, legislatures, companies, institutional investors, international organizations, intermediaries, etc. ¹For instance, the government of South Korea has taken a series of steps to reform the corporate governance of Chaebol since 1998.²The Organization of Economic Cooperation and Development (OECD) also released “OECD Principles of Corporate Governance” in 1999 in order to provide member and non-member countries with specific guidelines to improve the legal, institutional and regulatory frameworks that underpin corporate governance.³In addition, intermediaries, such as McKinsey & Company, are also urging the overhaul of corporate governance in emerging and transitional economies.⁴

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Notes

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Ibid.
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In 2004, the annual VC investment amount in Italy was only 1.8 billion dollars. However, that amount in America in the same year was 113.7 billion dollars. The former was just a little more than 1% of the latter. See China Venture Capital Research Institute Limited (2006) China venture capital yearbook (2006). Democracy and Construction Press, Beijing, p 170.
51.
See footnote 38 above, pp 1068–1103.

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College of Humanities and Law, Shandong University of Science and Technology, Qingdao, Shandong, China
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Zhang, L. (2012). An Introduction to Adaptive Efficiency and Corporate Governance. In: Venture Capital and the Corporate Governance of Chinese Listed Companies. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-1281-6_1

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DOI: https://doi.org/10.1007/978-1-4614-1281-6_1
Published: 29 August 2011
Publisher Name: Springer, New York, NY
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Online ISBN: 978-1-4614-1281-6
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