Corporate Governance of Banks in Asia: Volume 1

This first volume is about the practice of corporate governance of commercial banks in post-crisis Asia. Although all the Asian bank supervisory agencies have introduced regulatory reforms to encourage the development of good corporate governance policies in banking institutions since the 1997 financial crisis, not much is known about the success of these policy reforms. This study addresses the issue of corporate governance practices in the banking institutions of Indonesia, the Republic of Korea, Malaysia, and Thailand from 1998 until 2003.

An important contribution of this study is the empirical results from questionnaire surveys completed by boards of directors. The data includes the opinions of board members and other bank officers on board effectiveness, executive compensation, and risk management practices in banking institutions in the four countries. These results provide useful insights into the observed behaviors of board members as well as the significance of, and progress in, other aspects of bank governance in post-crisis Asia. The questionnaire survey covers 63 banks: 26 in Indonesia, 14 in the Republic of Korea, 10 in Malaysia, and 13 in Thailand.

The 2nd volume provides theme papers, which are revised versions of the papers presented at the seminars "Corporate Governance of Banks in Asia" held in Tokyo in June 2004 and January 2005. They deal with such topics as financial safety nets, bank ownership and governance quality, market discipline of banks, financial incentives for bank directors, and banks’ risk management practices.

The previous book Corporate Governance in Asia, published in October 2004, reviewed corporate governance in general in the same set of crisis-hit Asian countries.

The views expressed in this paper are the views of the author/s and do not necessarily reflect the views or policies of the Asian Development Bank Institute nor the Asian Development Bank. Names of countries or economies mentioned are chosen by the author/s, in the exercise of his/her/their academic freedom, and the Institute is in no way responsible for such usage.

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