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The Concept of Governance in Hong - Research Paper Example

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This research paper will examine the corporate governance in Hong Kong as well as how this is changing the economic and business environment at both a local and international level and how corporate governance affects the economy and the overall environment with the industrial sectors in Hong Kong. …
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The Concept of Governance in Hong
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Download file to see previous pages The concept of corporate governance is one that is known to affect both small and large firms in Hong Kong.  A structure that is used as a common perspective in the area is based on the family firms that have been passed down between generations.  The family firms that have been developed are able to incorporate the corporate governance to link to social responsibility and to understand the current conceptions that are in the environment.  There is also the understanding that the governance is supposed to change the conduct of ethical businesses so they can monitor the activities within a given corporation.  It is known that family firms have difficulty with corporate governance, specifically because the responsibility is based on the specific family members and the movement into different generations.  More importantly, there is a focus on maximizing profits from shareholders without concern for social responsibilities and community well – being.  The gap that is in family firms with corporate governance is one that becomes problematic, specifically because there isn’t a focus on the ethical responsibilities and the relationship to shareholders and others interested in the business.  For most firms, this gap creates the inability to continue to progress within the corporation (Shea, 2007).
Even though there are gaps in corporate governance, it has also been found that there is a value to the structure and policies that are associated with the companies.  Through a current research study (Zhou, 5, 2005), it was found that through corporate governance alone, there is an increase in investor relationships by 5%.  This difference is significant enough to show that the concept of corporate governance can directly affect the firm and the capital cost in a positive manner.  More importantly, it can continue to attract investors and those that are interested in the corporation.  The stock market and the ability to gain profit and loss within the corporation begin to be instigated by having the basic policies and procedures in place through corporate governance.  ...Download file to see next pages Read More
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