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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 1 -

1960 12 14 1961 9 30

(Organisation for

Economic Co-operation OECD)

OECD

(1964 4 28 ) (1969 1

28 ) (1971 6 7 ) (1973 5 29 )

(1994 5 18 ) (1995 12 21 ) (1996

5 7 ) (1996 11 22 ) (1996 12 12 )

(2000 12 14 )

OECD (OECD )

OECD

OECD (CCNM) OECD

OECD OECD



CCNM OECD

OECD

CCNM OECD

�OECD2003



(CFC) 20 rue des

Grands-Augustins, 75006 Paris, France (33-1)44 07 47 70

(33-1)46 34 67 19 (the Copyright Clearance

Center) (508)750-8400 222 Rosewood Drive,

Danvers, MA 01923 USA www.copyright.com

OECD Publications

2, rue Andr-Pascal, 75775 Paris Cedex 16, France



(entrepreneurship)

OECD (World Bank

Group)

OECD OECD

OECD

(CCNM)

OECD OECD’s Corporate Affairs Division

1997



OECD

(World Bank Group)

(Asian Development Bank)

Donald J. Johnston



1. OECD

(World Bank) OECD

OECD

2. 1999 2003 (World Bank)

(Asian Development Bank)

(Global Corporate Governance Forum)

3.

4. 1997

5.

6.



7.

8.

9.

IAS 1

10.

11.

12.

1 2001 (IASB)

(IASB) (IFRS)IAS (IAS) ( )

IFRS IAS IASB IFRS



(shadow director)

13.

14.

15.

16.

(fit and proper)



17.

OECD (World Bank) OECD

OECD

18. 1999 2003 OECD (World

Bank Group)

(Asian Development Bank)2

OECD

2000

2 (the

Korea Development Institute) (the Hong Kong Society of Accountant)

(the Hong Kong Securities and Futures Commission) (the Stock Exchange of Hong Kong)

(the Monetary Authority of Singapore) (the Singapore Institute of Directors) (the Singapore Exchange)

(the Ministry of Law, Justice & Company Affairs of the Government of India) (the Securities and Exchange Board of India) (the Confederation of India Industry)

(the Malaysian Securities Commission) (the Kuala Lumpur Stock Exchange) (the Malaysian Institute for Corporate Governance)



19.

OECD3

20.

OECD

OECD

21. OECD

22.

4

OECD

23.

3 OECD

OECD OECD

4



24.

OECD

25. OECD

OECD OECD

(the Financial Stability Forum) OECD

OECD

(IOSCO) (the

International Corporate Governance Network) OECD

OECD

26. OECD 1999 OECD OECD

(World Bank)

OECD

27. OECD (World Bank)

(APEC)



28. 5

29. 6

30.

31.

5 153

6 Stijn Claessens, Simeon Djankov and Larry H.P. Lang ? (Who Controls East Asian Corporations?) World Bank Working Paper(1999) 20%



7

32.

33.

34.

35.

36. 1997

7



37.

38.

39.

40.

41.



42.

43.

44.

45.

(IAS)

241

(IAS)



46.

47.

48.

49.



50.

51.

52.

53.

54.



8

55.

9

10

56.

57.

58. 1997

,

59.

8 .

9 . ( )

10 . OECD

( 15 109 117 134)



I./II.

60.

61.

62.

63.



64.

65.

66.

11

67.

11

( )

(categorical rule)( ) (

)(Privately-Held

Companies) Robert C. Clark Corporate Law Little, Brown and Company (Boston: 1986) 29



A.

68.

69.

70.

71.



(

)

72.

(foundese’s shares)

(golden share) (

)

73.

74.

(non-executive director) (independent director)

75.

B.



76.

(

)

77. (

) ( )

78.

30

79.

(

)

C.

80.

(attribution rules)

81.



( )

82.

(poison pills)

D.

83.

84.

(

)

(the High Level Finance Committee on

Corporate Governance of the Malaysian Ministy of Finance)



85.

86.

12 13

14

87.

( )

( )

( )

88.

12 .

13 .

14 . (

) ( 12)60 1030 45



89.

90.

91. OECD

92.



93.

94. 15

OECD

OECD

95. OECD

96.

97.



98.

99.

golden share

100.

101.



102.

103.

104.

105.

106.



107.

108.

15

109.

110.

111.

15 .

Eric Talley “Complexity in Corporate Governance: The Case of Corporate Opportunities,”

2002 11 11 12 www.oecd.org/daf/corporate-affairs/.



112. – –

113.

114.

16

115.

16 .

21 22 Sections 21-22 of the German Gesetz über den Wertpapierhandel 233 9 Arts. 233-9 of the French Code du Commerce



17

116.

18

117.

118.

119.

120.

17 .

18 . Options for Obtaining Beneficial Ownership and Control Information: A Template , OECD Publications ( 2002)

Behind the Corporate Veil: Using Corporate Entities for Illicit Purposes , OECD Publications ( 2001).



121.

112

116

122. /

– –

123.

prima facia 19

20

124.

19 .

20 .

Clark 11 180 89



125.

21

126.

127.

21 . 318 321



128.

/

129.

(legitimacy)

130.

/ 22

131.

(legitimate)

132.

/

OECD

/

22 . Clark 11 180 89



133.

sweetheart deals

134.

(sectors)

(

)

135.

136.



137.

138.

139. (fiduciaries)

140.

141. (shareholder-initiated enforcement)



142.

(safe harbours)

(business judgement rules) 285

(professional plaintiffs)

143.

144.

145. OECD



(

)

146.

147.

148. 23

24

149.

23 .

24 . Jang Hasung Empowering

Shareholders Rights: Derivative and Class-Action LawsuitsAsian Roundtable on Corporate Governance 2002 11 11 12 www.oecd.org/daf/corporate-affairs/.



150.

OECD

151.

142

25

152.

Complex litigation

III.

153.

25 . 1995 US Private Securities Litigation Reform Act

(lead plaintiff)race to the

courthouse

5

5



154.

155.

/

156. /

157.



/

158.

159.

160.

161.



162.

163.

�

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166.



167.

168.

169.

170.

171.

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OECD Guidelines for Multintaional Enterprises

172.

173. OECD

174.

175.

176.

177. OECD



178. OECD

179.

IV.

180.

181.



182.

183.

184.

185.

A.

186.



187.

188.

189.

190.

191.



192. "Executive Officers"

193. (MD&A)

194. (forward-looking statement)

B.

195.

196.



197.

198.

(IAS)

(ISA)

C.

199.

D.

200.



201.

202.

203.

OECD



204.

205.

206.



207.

208.

209.

210.



211.

212.

213.

214.

215. (materiality)



216.

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�

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217.

218.

219.

220.



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224.

225.

26

226.

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117 134

227.

228.

( )

( ) ( ) 27

229.

(

)

230.

231.

(level playing field)

27 IOSCO Public Document (Principles for Ongoing Disclosure and

Material Reporting by Listed Entities) IOSCO Technical Committee(October 2002)



232.

233.

234.

235.

236.

( )

237.



238.

239.

240.

241.

(

) 28

242.

28 IOSCO Public Document No.134 (Principles of Auditor Oversight)

IOSCO Technical Committee (October 2002)



243.

244.

245. 29

(

)

( )

246.

247.

29 ISA



248.

249.

250.

251.

252.

( 202 207 )

253.

254.

30

30



V.

255.

256.

257.

258.



259.

260.

261.

262.



263.

264.

265.

Growth Enterprise Market; GEM

Main Board

266.

70



267.

31

268.

25% 50%

269.

31



270.

271.

272.

2003

2003

2003

273.



274.

275.

276. OECD

32

277.

278.

32 OECD , V. A Section V.A.



279.

33

280.

281.

282. OECD

283.

284. OECD

285. 33



286.

287.

288.



289.

290.

291.

—

292. OECD —

(Hong

Kong China Companies Ordinance)

293.

294.

295.



296.

297.

298. (

)

299.

300.



301.

302. OECD

303.



304.

— 1

305.

(

)

306.



307.

308.

309.

34

310.

34



311.

312.

313.

314.

315.

316.



317.

318.

319.

320.

(Overview of Legal Frameworks and Key Board Practices)

321.

322.



323. OECD

324.

OECD

35

36

/

/

325.

35

36 117 134



326.

37 /

327.

328.

37 1992 Cadbury Report

2003 (The Conference Board)

Lead Independent Director

Presiding Director

OECD

/



329.

330.

331.

332.

333.



334.

38

OECD

China’s Code of

Corporate Governance

30%

335.

3% 3%

OECD

38 Black, Bernard S. and Kraakman,

Reinier (A Self-Enforcing Model of Corporate Law) Harvard Law Review 109 1911 1982 1996



336.

337. OECD

338.

339.

39

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S:\APPLIC\CORPAFFAIRS\CORPORATE GOVERNANCE\_IN NON-MEMBER COUNTRIES\ASIA\ASIAN CORPORATE GOVERNANCE WHITE PAPER\PUBLICATION\ASIAN

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Untitled Document []...PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 1 - 1960 12 14 1961 9...

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Transcript of Untitled Document []...PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 1 - 1960 12 14 1961 9...