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

Mathias M. Siems

Durham University - Durham Law School; University of Cambridge - Centre for Business Research

Oscar Salvador Alvarez-Macotela

KLS, University of Kent

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 M. 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. Available at SSRN: https://ssrn.com/abstract=2214828

Mathias M. Siems (Contact Author)

Durham University - Durham Law School ( email )

Stockton Road
Durham, County Durham DH1 3LE
United Kingdom

HOME PAGE: http://www.dur.ac.uk/mathias.siems

University of Cambridge - Centre for Business Research ( email )

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

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

Oscar Salvador Alvarez-Macotela

KLS, University of Kent ( email )

Canterbury, Kent CT2 7NS
United Kingdom

HOME PAGE: http://https://www.kent.ac.uk/law/people/academic/Alvarez-Macotela,_Oscar.html

Paper statistics

Downloads
462
Rank
48,870
Abstract Views
2,439