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date: 24 October 2020

Abstract and Keywords

This article provides an overview of corporate governance in Asia. It suggests that while a business-systems perspective highlights the nature of corporate governance as a set of intertwined and complementary institutions, the business-systems perspective can be enhanced further through greater attention to the gap between informal and formal systems, an expanded understanding of globalization, and the rise of state capitalism, among other factors. The analysis presented in this article suggests that there is no ‘Asian system’ of corporate governance, and that corporate governance varies greatly, not only between Asian countries, but also within individual countries. This article contributes to the business- systems and varieties of capitalism literatures as well as to the literature on the institution-based view of the firm.

Keywords: corporate governance, Asia, business systems, varieties of capitalism, institutions, globalization

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