Overview

The rise of the independent director in Asia is an issue of global consequence that has been largely overlooked until recently. Less than two decades ago, independent directors were oddities in Asia's boardrooms. Today, they are ubiquitous. Independent Directors in Asia undertakes the first detailed analysis of this phenomenon. It provides in-depth historical, contextual and comparative perspectives on the law and practice of independent directors in seven core Asian jurisdictions (China, Hong Kong, India, Japan, Singapore, South Korea, Taiwan) and Australia. These case studies reveal the varieties of independent directors in Asia, none of which conform to its original American concept. The authors develop a taxonomy of these varieties, which provides a powerful analytical tool for more accurately understanding and effectively researching independent directors in Asia. This new approach challenges foundational aspects of comparative corporate governance practice and suggests a new path for comparative corporate governance scholarship and reform.

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9781107179592

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Advance praise: 'Independent Directors in Asia combines a rigorous theoretical framework with the insights that only in-depth jurisdiction-specific analyses can give. In doing so, it provides the readers with a precise and thought-provoking sense of how the same governance mechanism can mean different things and perform different functions not only once transplanted from the US to Asia but also within the various Asian jurisdictions. In short, this is a fascinating book that has all the ingredients to become a classic in comparative corporate law.' Luca Enriques, Allen and Overy Professor of Corporate Law, University of Oxford Advance praise: 'The independent director has been a focal point of corporate governance reform in the United States and the United Kingdom for decades, but its transplantation into Asian systems has been surprisingly complex and at times politically fraught. This enlightening volume exposes the institutional richness and functional diversity behind Asia's halting embrace of this corporate governance device. Independent Directors in Asia will have a long shelf life as an indispensable resource for scholars, policymakers and practitioners.' Curtis J. Milhaupt, Parker Professor of Comparative Corporate Law and Fuyo Professor of Japanese Law, Columbia Law School

'Independent Directors in Asia combines a rigorous theoretical framework with the insights that only in-depth jurisdiction-specific analyses can give. In doing so, it provides the readers with a precise and thought-provoking sense of how the same governance mechanism can mean different things and perform different functions not only once transplanted from the US to Asia but also within the various Asian jurisdictions. In short, this is a fascinating book that has all the ingredients to become a classic in comparative corporate law.' Luca Enriques, Allen and Overy Professor of Corporate Law, University of Oxford 'The independent director has been a focal point of corporate governance reform in the United States and the United Kingdom for decades, but its transplantation into Asian systems has been surprisingly complex and at times politically fraught. This enlightening volume exposes the institutional richness and functional diversity behind Asia's halting embrace of this corporate governance device. Independent Directors in Asia will have a long shelf life as an indispensable resource for scholars, policymakers and practitioners.' Curtis J. Milhaupt, Parker Professor of Comparative Corporate Law and Fuyo Professor of Japanese Law, Columbia Law School 'Independent Directors in Asia combines a rigorous theoretical framework with the insights that only in-depth jurisdiction-specific analyses can give. In doing so, it provides the readers with a precise and thought-provoking sense of how the same governance mechanism can mean different things and perform different functions not only once transplanted from the US to Asia but also within the various Asian jurisdictions. In short, this is a fascinating book that has all the ingredients to become a classic in comparative corporate law.' Luca Enriques, Allen and Overy Professor of Corporate Law, University of Oxford 'The independent director has been a focal point of corporate governance reform in the United States and the United Kingdom for decades, but its transplantation into Asian systems has been surprisingly complex and at times politically fraught. This enlightening volume exposes the institutional richness and functional diversity behind Asia's halting embrace of this corporate governance device. Independent Directors in Asia will have a long shelf life as an indispensable resource for scholars, policymakers and practitioners.' Curtis J. Milhaupt, Parker Professor of Comparative Corporate Law and Fuyo Professor of Japanese Law, Columbia Law School

Author Information

Dan W. Puchniak is the Director of the National University of Singapore (NUS) Centre for Asian Legal Studies, the Editor-in-Chief of the Asian Journal of Comparative Law and an Associate Professor at NUS Law. He specialises in corporate law with an emphasis on comparative corporate law in Asia and has published widely on comparative, Asian, Singapore and Japanese corporate law and governance. Harald Baum serves as Senior Research Fellow and the Head of the Japanese Department at the Max Planck Institute for Comparative and International Private Law in Hamburg and as Professor of Law at the University of Hamburg. He is the executive founding editor of the Journal of Japanese Law and has authored and edited numerous books and articles on business law, corporate governance, and capital markets regulation in Germany, the EU, Japan and the US. Luke Nottage (B.C.A, LL.B., Ph.D., LL.M.) is Associate Director of the Centre for Asian and Pacific Law at the University of Sydney, and founding director of the Australian Network for Japanese Law and Japanese Law Links Pty Ltd. He specialises in corporate governance, foreign investment regulation, arbitration, contract law and consumer product safety law, with a particular interest in Japan and the Asia-Pacific. His other publications include Corporate Governance in the 21st Century: Japan's Gradual Transformation (2008) and Foreign Investment and Dispute Resolution Law and Practice in Asia (2011).

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