Asian corporate governance improves

CLSA releases its second annual corporate governance report showing that Asian companies and regulators are getting the CG religion.

Entitled 'CG Watch - Make me holy... but not yet' - the CLSA report affirms the truism that companies that have good management also have good share price performance. The report grades companies in Asia as well as those in Latin America and Emerging Europe, Middle East and Africa according to seven key criteria, which measure each company's overall corporate governance. These are discipline, transparency, independence, accountability, responsibility, fairness and social responsibility.

The report found that the companies with the highest scores also had the best stock market performance. The top quartile of companies in the CG rankings beat their respective country indices in nine out of ten Asian markets. Better companies and better...

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