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Monitoring of corporate groups by independent directors

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  • Monitoring of corporate groups by independent directors
  • Pritchard, A.C.
  • Seoul National University(BK 21 Law)


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Title Monitoring of corporate groups by independent directors
Similar Titles
Material Type Articles
Author(English)

Pritchard, A.C.

Publisher

[Seoul]:Seoul National University(BK 21 Law)

Date 2009
Journal Title; Vol./Issue Journal of Korean Law:vol. 9(no. 1)
Pages 25
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Laws and Legislation
Holding Seoul National University

Abstract

Both the United States and Korea have reformed their corporate governance in recent years to put increasing responsibilities on independent directors. Independent directors have been found to be an important force protecting the interests of shareholders when it comes time to make certain highly salient decisions, such as firing a CEO or selling the company. This article compares the role of independent directors in the US and Korean systems. I argue that the US may have placed regulatory burdens on independent directors that they are unlikely to be able to satisfy, given their part-time status. By contrast, in the chaebol system of Korea, independent directors may have a critical role to play in limiting self dealing by controlling shareholders. (The rest omitted)