Corporate Governance Challenges in Asia

Property rights in Asia were never very pronounced. Until not very long ago, feudal governance reigned supremely and private property rights were weak. While feudal systems were not unknown in Europe of course, property rights emerged early, as in the circumstances leading to the creation of the Magna Carta charter in England, the French Revolution and at its peak, the founding of the United States. Here, notions of private property in an “anti-feudal” system formed the core of the foundation of this new state and subsequently spread around the world. In Asia, its adoption was delayed by colonial governance which did not put a high priority on private property rights of the locals.