Corporate governance: Asia's governance grail proves elusive

CLSA and Asian Corporate Governance Association (ACGA) published their annual corporate governance rankings this year entitled “The Holy Grail”. The research, pored over by zealous regulators eager to pat themselves on the back, scores Asian markets on various issues affecting corporate governance, including regulation, enforcement and even “culture” (see table). Most notable this year is Taiwan’s jump up the table and Korea’s slide down it.

Perennial under-achievers Philippines, China and Indonesia remain rooted to the foot of the table. “The quest for the holy grail of good governance continues,” concludes the report patiently.

[See Asia’s best companies, this issue]