Code and Culture

in Asian Corporate Governance

Prof. Lawrence S. LiuLee and Li, Attorneys at Law, and Soochow University

Taipei

 

March 26, 2003

 Kuala Lumpur, Malaysia

OECD 5th Asian Corporate Governance Roundtable

2

Cultural Context for Corporate Governance Codes

Malaysian Best Practice Code as A Case in Point"Legal Culture": Commonwealth and Common Law "Culture Culture""Business Culture"

3

Features and Functions of Best Practice Codes

Comply or DiscloseIndustry/Market PressureSoft Law

4

Post-Enron Reflections on Best Practice Codes in Asia

Best Practice Guidelines Still Important

But Shifting Focus towards "Hard Law"

Also Shifting Focus towards "Hard Enforcement"

5

THANK YOU