Seoul Journal of Economics - Vol. 13 , No. 3

[ Article ]
Seoul Journal of Economics - Vol. 13, No. 3, pp. 225-251
Abbreviation: SJE
ISSN: 1225-0279 (Print)
Print publication date 31 Aug 2000
Received Aug 2000 Revised Oct 2000

Corporate Governance and Restructuring in East Asia: An Overview
Usha C. V. Haley
Associate Professor, Department of Management, College of Business Administration, University of Tennessee, Knoxville, 414 Stokely Management Center, Knoxville, TN 37996-0545, USA, Tel: +1-865-974-0346, Fax: +1-865-450-3143 (uhaley@utk.edu)(uhaley@asia-pacific.com), http://www.asia-pacific.com

JEL Classification: F23, G34


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 (FDI) 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.

Keywords: Asian crisis, Financial reform, Structural reform, FDI


An earlier version of this paper was presented at the 8th SJE International Symposium on Corporate Governance and Restructuring in East Asia, Seoul, Korea, August 25, 2000. The author thanks the symposium's participants and discussants, especially Jae-Woo Lee, for their helpful feedback.

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