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(Organisation for
Economic Co-operation OECD)
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(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
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(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
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(entrepreneurship)
OECD (World Bank
Group)
OECD OECD
OECD
(CCNM)
OECD OECD’s Corporate Affairs Division
1997
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OECD
(World Bank Group)
(Asian Development Bank)
Donald J. Johnston
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 6 -
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 7 -
1. OECD
(World Bank) OECD
OECD
2. 1999 2003 (World Bank)
(Asian Development Bank)
(Global Corporate Governance Forum)
3.
4. 1997
5.
6.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 8 -
7.
8.
9.
IAS 1
10.
11.
12.
1 2001 (IASB)
(IASB) (IFRS)IAS (IAS) ( )
IFRS IAS IASB IFRS
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(shadow director)
13.
14.
15.
16.
(fit and proper)
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 10 -
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 11 -
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)
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19.
OECD3
20.
OECD
OECD
21. OECD
22.
4
OECD
23.
3 OECD
OECD OECD
4
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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)
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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%
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 15 -
7
32.
33.
34.
35.
36. 1997
7
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 16 -
37.
38.
39.
40.
41.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 17 -
42.
43.
44.
45.
(IAS)
241
(IAS)
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 18 -
46.
47.
48.
49.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 19 -
50.
51.
52.
53.
54.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 20 -
8
55.
9
10
56.
57.
58. 1997
,
59.
8 .
9 . ( )
10 . OECD
( 15 109 117 134)
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 22 -
I./II.
60.
61.
62.
63.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 23 -
64.
65.
66.
11
67.
11
( )
(categorical rule)( ) (
)(Privately-Held
Companies) Robert C. Clark Corporate Law Little, Brown and Company (Boston: 1986) 29
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A.
68.
69.
70.
71.
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(
)
72.
(foundese’s shares)
(golden share) (
)
73.
74.
(non-executive director) (independent director)
75.
B.
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76.
(
)
77. (
) ( )
78.
30
79.
(
)
C.
80.
(attribution rules)
81.
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( )
82.
(poison pills)
D.
83.
84.
(
)
(the High Level Finance Committee on
Corporate Governance of the Malaysian Ministy of Finance)
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85.
86.
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14
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( )
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13 .
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) ( 12)60 1030 45
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89.
90.
91. OECD
92.
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93.
94. 15
OECD
OECD
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96.
97.
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98.
99.
golden share
100.
101.
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102.
103.
104.
105.
106.
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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/.
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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
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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).
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121.
112
116
122. /
– –
123.
prima facia 19
20
124.
19 .
20 .
Clark 11 180 89
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125.
21
126.
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21 . 318 321
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128.
/
129.
(legitimacy)
130.
/ 22
131.
(legitimate)
132.
/
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/
22 . Clark 11 180 89
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133.
sweetheart deals
134.
(sectors)
(
)
135.
136.
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137.
138.
139. (fiduciaries)
140.
141. (shareholder-initiated enforcement)
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142.
(safe harbours)
(business judgement rules) 285
(professional plaintiffs)
143.
144.
145. OECD
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(
)
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/.
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 43 -
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
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154.
155.
/
156. /
157.
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/
158.
159.
160.
161.
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162.
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167.
168.
169.
170.
171.
OECD
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OECD Guidelines for Multintaional Enterprises
172.
173. OECD
174.
175.
176.
177. OECD
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178. OECD
179.
IV.
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181.
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182.
183.
184.
185.
A.
186.
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187.
188.
189.
190.
191.
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192. "Executive Officers"
193. (MD&A)
194. (forward-looking statement)
B.
195.
196.
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197.
198.
(IAS)
(ISA)
C.
199.
D.
200.
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201.
202.
203.
OECD
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204.
205.
206.
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207.
208.
209.
210.
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211.
212.
213.
214.
215. (materiality)
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221.
222.
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224.
225.
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226.
26
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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)
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232.
233.
234.
235.
236.
( )
237.
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238.
239.
240.
241.
(
) 28
242.
28 IOSCO Public Document No.134 (Principles of Auditor Oversight)
IOSCO Technical Committee (October 2002)
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243.
244.
245. 29
(
)
( )
246.
247.
29 ISA
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248.
249.
250.
251.
252.
( 202 207 )
253.
254.
30
30
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V.
255.
256.
257.
258.
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259.
260.
261.
262.
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263.
264.
265.
Growth Enterprise Market; GEM
Main Board
266.
70
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267.
31
268.
25% 50%
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31
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270.
271.
272.
2003
2003
2003
273.
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274.
275.
276. OECD
32
277.
278.
32 OECD , V. A Section V.A.
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S:\APPLIC\CORPAFFAIRS\CORPORATE GOVERNANCE\_IN NON-MEMBER COUNTRIES\ASIA\ASIAN CORPORATE GOVERNANCE WHITE
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PAPER\PUBLICATION\ASIAN WHITE PAPER-CANTONESE.DOC 2 - 79 -
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37 1992 Cadbury Report
2003 (The Conference Board)
Lead Independent Director
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38 Black, Bernard S. and Kraakman,
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1988
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20
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Dir
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S:\APPLIC\CORPAFFAIRS\CORPORATE GOVERNANCE\_IN NON-MEMBER COUNTRIES\ASIA\ASIAN CORPORATE GOVERNANCE WHITE PAPER\PUBLICATION\ASIAN
WHITE PAPER-CANTONESE.DOC 6 - 1 -