Corporate Governance: Differences in Globalized world
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Abstract
Corporate governance systems of different countries reflect differences in regulatory regimes, legal frameworks, and institutional setting, differences in stages of economic development, historical background, and social, political and cultural differences. No one could and should say which corporate governance is the best because there is no perfect or the best system. One system might be suitable in one country while the other might not. The differences in social structure including legal, financial framework do play important roles in differentiating corporate governance; however, in order to introduce new rules, it should be carefully introduced. In US, corporate governance is emphasis on the role of market, property rights; Japanese seems to emphasis in business network whilst Germany emphasis on social value. This article will illustrate the differences in company structure and point out that any attempt to harmonise the systems may not be the answer despite that fact of the country’s difference in system and structure.
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