Corporate Governance in Hong Kong: 'The State of Affairs'
Compliance & Regulatory Journal, No. 1, pp. 39-48, 2006
19 Pages Posted: 11 Apr 2006 Last revised: 2 Jan 2014
Date Written: 2006
Abstract
Hong Kong is a unique cosmopolitan business hub driven by pragmatism with a Chinese flair, in which, for many Chinese enterprises, corporate law and governance were introduced as alien concepts. As in many other countries, Hong Kong is obligated by international markets to embrace these requirements. Yet many business operators lack even the understanding of basic company law, partly because the obligations are incompatible with the values and corporate cultures nurtured in Hong Kong. The paper reports five surveys conducted over a period of eleven years that highlight these inferences.
Keywords: Corporate governance, business culture, legal awareness
JEL Classification: K22, M14, G30
Suggested Citation: Suggested Citation