Corporate Governance Developments in Asia
2012年03月23日
In the evening of March.22, 2012, we were honored and privileged to have Professor of Finance from the Korea University Business School, Mr. Hasung Jang, gave us the first event of MBA Forum this semester.
Mr. Hasung Jang graduated from Korea University College of Business Administration, and then got his master degree in Economics from State University of New York at Albany and Ph. D Degree in Finance in 1987 from Wharton School of University of Pennsylvania.
He was the Dean of Korea University Business School from 2005 to 2010. Currently he is the Executive Director of Asian Institute of Corporate Governance. Besides, he also holds various professional positions in the field of corporate governance.
Mr. Hasung Jang’s academic interests as well as non-academic activities are focused on corporate governance and capital market development.
In his lecture Mr. Hasung Jang made his delivery significantly explicit and vivid by combining clear framework of theory, classical cases from his academic study and personal practices all together.
We got to acquire the evolution of corporate governance along with the change of economic environment. He pointed out that though it has been improved dramatically in Asia for the last 10 years, yet the practices and enforcement of rules and regulations are still weak. In terms of practices, professor introduced IMD, three CG issue like shareholder’s right, corporate board, auditing and accounting.
Prof. Jang helped us read the table of ranking in the performance of three issue of corporate governance of different countries in recent years and indicate the trend of competitiveness and reason behind the rank. We learned the differences of the impact disparity between emerging market and developed market. He also triggered a heated discussion among audience on some sensitive topics like transparency and corruption.
He enhanced the importance of cooperate governance influence in the virtuous operation of company, right of shareholders and macroeconomic environment. Meanwhile, he prescribed what to expedite improvement of corporate governance and encourage shareholders’ activism.
He told us his personal stories of verification as an example. He has been the leader of minority shareholder activist’s group in Korea since 1996. His shareholder activism brought improvement in corporate governance in Korea by winning a number of shareholder suits against large corporations and banks in Korea. He established the landmark first derivative lawsuit case against a bank which resulted in winning $40million on behalf of minority shareholders. He has contributed in legislating security class action lawsuits and anti-corruption law in Korea. In recognition of his contributions, Business Week placed him among the Asian Star 50 in 1998 and 1999. International Corporate Governance Network awarded him the Award for Excellence in Corporate Governance in 2001.
We were also surprised that he was quite familiar with Chinese Confucianism and western religion. All the audience felt that Prof. Jang is so respectable not only because of his scholastics’ achievement but also his dedication, voluntary and boundless courage.
Fudan MBA Forum
Written by: Jade MA Zhengyu（Fudan-MIT IMBA Program Class One）
Mar.23rd，2012
