The OECD Principles of Corporate Governance in Emerging Markets: A Successful Example of Networked Governance?

Mark Fenwick, Steven Van Uytsel and Stefan Wrbka (eds.), Networked Governance, Transnational Business and the Law, Berlin: Springer, 2014, Forthcoming

8th Annual Kyushu University Law Conference, 10-11 February 2013

26 Pages Posted: 13 Feb 2013 Last revised: 9 Dec 2013

See all articles by Mathias Siems

Mathias Siems

European University Institute (EUI); University of Cambridge - Centre for Business Research; European Corporate Governance Institute (ECGI)

Oscar Salvador Alvarez-Macotela

Interdisciplinary Institute on Human Ecology and Sustainability (INTERHES); Social Value UK

Date Written: March 31, 2013

Abstract

The OECD Principles of Corporate Governance are a networked form of governance predominantly aimed at the law-makers and firms of emerging markets. This chapter discusses whether the approach of the OECD Principles can be regarded as a success. Our analysis provides a mixed response. While features of networked governance are clearly visible in the drafting and operation of the Principles, the practical effectiveness may be hindered by the lack of well-functioning local institutions. Moreover, while appreciating that the OECD has engaged in activities such as regional roundtables in order to take account of the local context, the Principles themselves are based on the corporate governance model of the OECD member countries not perfectly suitable for emerging markets. Recent events also point towards scepticism of whether adoption of the Principles can be seen as an effective way to prevent future financial crises.

Keywords: corporate governance, company law, emerging markets, emerging economies, networked governance, trust

JEL Classification: F63, G34, K22, M14, O16

Suggested Citation

Siems, Mathias and Alvarez-Macotela, Oscar Salvador, The OECD Principles of Corporate Governance in Emerging Markets: A Successful Example of Networked Governance? (March 31, 2013). Mark Fenwick, Steven Van Uytsel and Stefan Wrbka (eds.), Networked Governance, Transnational Business and the Law, Berlin: Springer, 2014, Forthcoming, 8th Annual Kyushu University Law Conference, 10-11 February 2013, Available at SSRN: https://ssrn.com/abstract=2214828

Mathias Siems (Contact Author)

European University Institute (EUI) ( email )

Via Bolognese 156 (Villa Salviati)
Firenze, 50139
Italy

HOME PAGE: http://www.eui.eu/siems

University of Cambridge - Centre for Business Research ( email )

Top Floor, Judge Business School Building
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Cambridge, CB2 1AG
United Kingdom

HOME PAGE: http://www.cbr.cam.ac.uk/people/research-associates/mathias-m-siems/

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://ecgi.global/users/mathias-siems

Oscar Salvador Alvarez-Macotela

Interdisciplinary Institute on Human Ecology and Sustainability (INTERHES) ( email )

M. Lasala
Zaragoza, Aragon 50006
Spain

HOME PAGE: http://www.interhes.org/

Social Value UK

Graeme House
Derby Square
Liverpool, North West England L2 7ZH
United Kingdom
01517039229 (Phone)

HOME PAGE: http://www.socialvalueuk.org

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