International Corporate Governance
The proposed UTS Centre will have as one of its key programs the examination of how international corporate governance systems are being transformed in response to the internationalisation of financial markets. Different regional and cultural systems of governance will be explored including the Anglo-Saxon "shareholder value" based approach, the European "stakeholder" approach, and Asian forms of collective capitalism. Reforms initiated in Asian and Eastern European countries by the World Bank, OECD and Asian Development Bank will be monitored, together with the increasing pressures from shareholder groups in different countries. This research can help establish what regulatory processes assist in creating effective governance, and also further our understanding of the link between financial institutions, markets and governance. For example, banks, securities markets and institutional investors create different types of demand for governance within firms. International comparisons provide the most powerful way of establishing the role of various institutional features in influencing governance, as well as assisting to identify the extent to which governance mechanisms are converging.