Corporate Governance and Restructuring in East Asia : An Overview

Abstract

After the 1997-8 Asian financial crisis, Asia's turnaround in 2000 appears spectacular. To aid corporate restructuring, East Asian economies have passed new laws and regulations for more efficient bankruptcy procedures and improved bank-supervisory standards. Foreign Direct Investment (FDl) has also poured into East Asia in 1999 and 2000. This paper provides an historical overview of corporate restructuring in Indonesia, Korea, Malaysia, the Philippines and Thailand since the outbreak of the financial crisis. It also explores the implications of growth and economic dependency, needs for transparency and increased FDI on corporate restructuring in East Asia.