The enforcer

Corporate governance is a woolly term. Since the baht went south in July 1997, it has been bandied about, misused and abused.

Only a few Asian companies owning families seem to get it it being that corporate governance is ultimately in their companys best interests and is not a Western conspiracy. For the most part, however, it has received mostly lip service.

And fund managers who made it their rallying cry in the aftermath of the financial crisis developed a startling amnesia in the wake of dotcom fever. All that talk of doing your credit research ... well done, boys....

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