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Corporate Governance in Asian Countries: Has Confucianism Anything to Offer?

Authors

  • Lilian Miles,

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    • Lilian Miles is a Senior Lecturer in the Leadership, Work and Organisation Department, Middlesex University Business School, The Burroughs, Hendon, London, UK. E-mail: L.Miles@mdx.ac.uk.
  • S. H. Goo

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    • S. H. Goo is a Professor of Law; Director, Asian Institute of International Financial Law (AIIFL); Director, Japan and Korea Programme, Faculty of Law, The University of Hong Kong, Pokfulam, Hong Kong.

Abstract

Although Confucianism is a resilient cultural tradition in Asian societies, its role in their corporate governance systems is ambiguous. Confucian values have been pushed to the periphery because of a preoccupation in these countries to emulate corporate governance systems from the West. This article argues that Confucianism has much to offer in enhancing director conduct and corporate governance standards. As the attention of the global business community turns eastwards, it is opportune to revive interest in Confucianism and to explore ways in which it can be integrated formally into companies' governance systems.

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