The New Turn of Corporate Governance Principles

Abstract

The OECD Principles of Corporate Governance endorsed in 1999 which are become an international benchmark were revised by OECD Ministers in 2004. And the review process was supported by the efforts from many parties in both OECD and non OECD countries. The revised principles will further play a key role to those who have been concerned in corporate management, and then promote Corporate Governance around the world in the years ahead.The purpose of this paper is to clarify how the revised principles were reviewed and then how the fabrics of corporate governance will be strengthened around the world in the future. Firstly, the author deals with regional white papers on corporate governance which have affected the revision of the principles. Secondly, he treats the revised principles and points out the characteristics. Thirdly, the author analyses what kind of principles based on the revised principles can be accepted and applied in the 21st century by firms, institutional investors and so forth.