LunchCumSeminarCorporateGovernanceinHongKong「.pptVIP

Lunch Cum Seminar: Corporate Governance in Hong Kong「香港企業管治」午餐暨研討會 30 January 2007 HKIoD Corporate Governance Scorecard Project Research Committee Coordinator Prof. Stephen Y L Cheung (City University of Hong Kong) Members Dr. J. Thomas Connelly (Chulalongkorn University) Dr. Piman Limpaphayom (Chulalongkorn University) Ms. Ping Jiang (City University of Hong Kong) Research Assistants Mr. Andy Lau (City University of Hong Kong) Mr. Chung Cheong Wing(City University of Hong Kong) Mr. Ho Ka Ho (City University of Hong Kong) Ms. Jan Chan (City University of Hong Kong) Ms. Louise Zhang (City University of Hong Kong) Mr. Patrick Tsang (City University of Hong Kong) Research Methodologies I Survey results based on publicly available information HSI, HSHKCI, HSCCI, and HSCEI constituent stocks Based on information disclosed in 2005 174 major companies are covered Surveyed Companies I (as at 12/2005) Surveyed Companies II (as at 12/2005) Surveyed Companies III(as at 12/2005) Objectives of Corporate Scorecard for Hong Kong Listed Companies Research Methodologies II Avoids subjectivity bias Not dependent on companies’ willingness However, not as rich as an internal assessment ... ... and captures only what the companies released in public and their documentation Written request was sent to individual companies. Only a few companies supplied us with full information Consistency Each company was rated by two different members The overall results were cross-checked by academics Scorecard Followed The Five OECD Corporate Governance Principle OECD is internationally recognized HKEx guidelines comprehensively covered 174 public companies surveyed Positive Correlation between Good Corporate Governance and Company Valuation Market Valuation by Corporate Governance Entry Quartile Improvement of CGI Compared with 2002 Corporate Governance Performance by Indices Corporate Governance Performance by Industries Corporate Governance Performance by Categories Rights of Shareholders