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Articles: Corporate governance - general

HKEx chief calls for muddier water in China
Company web site, 2-Apr-2013
Charles Li of HKEx (0388): in China, "there is very little flexibility, if any, for broker-dealers to move funds across client accounts, let alone embezzle funds or engage in other malpractice...there is no incentive for financial institutions to innovate". At Webb-site, we think that embezzlement of client funds and other malpractices are the kind of innovative broking we can do without. Does he also think that more listed company disclosure would reduce the potential for "innovative" insider dealing by making the water "too clean"?

Building a Value Proposition for HK
HK Chief Executive Donald Tsang recently convened an Economic Summit of 33 people, which spawned 4 focus groups, including one on financial services, which in turn produced 3 working groups, one of which, headed by HKEx government-appointed director and Chairman Ronald Arculli, has sought submissions on the markets. This is our submission. (4-Oct-2006)

Avoiding the Logjam
Hong Kong is gradually being submerged in a landslide of printed IPO prospectuses, some running to almost 1,000 pages in bilingual form. Webb-site.com proposes a solution which can be quickly implemented and avoids a long wait for enabling legislation. (26-Sep-2006)
Yes, there is a Governance Premium
Researchers studying the corporate governance of 168 of Hong Kong's largest listed companies have found a positive and significant correlation between corporate governance score and price-to-book ratio. We bring you their paper. (22-Jun-2005)
DHL/SCMP's Sell Signal
We've found it - the best contra-indicator of performance for HK stocks yet - the DHL/SCMP Business Awards. Sitting at the awards dinner on Thursday night during a particularly boring speech, we had time to read the track record of these awards, which looks like a corporate graveyard of Hong Kong, with a good measure of walking wounded. Remember names like Siu-Fung Ceramics, Peregrine Capital, Akai Holdings and PCCW? They're all there, and more... (12-Dec-2001)
CLSA's Pioneering Work
By kind permission of CLSA Emerging Markets, Webb-site.com makes available for our readers their ground-breaking report, "Saints & Sinners", which includes corporate governance ratings of 495 stocks in their core coverage of 25 emerging markets. And if you are a CLSA client, find out more about our work in a global series of presentations hosted by the firm next week. Read on... (10-Jul-2001)

HAMS - Representing Minority Shareholders
Webb-site.com outlines our proposal for filling the vacuum of shareholder activism in Hong Kong. Investor rights are only of value if shareholders exercise them, and we explain how HAMS - the Hongkong Association of Minority Shareholders, would lobby for those rights, exercise them on members' behalf in quasi-class actions, and through Corporate Governance Ratings, incentivise good governance and deter shareholder abuse. Hong Kong can only maintain its regional financial market status and economic competitiveness if this void is filled. We'll also tell you how you can help. (4-Mar-2001)

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