Building a Comparative CFA and ADB & Hermes’s Corporate Governance Standards after Financial Crisis, Corporate Scandals and Manipulation - Implications for Developing Countries

Corporate governance is rising as a subject for debates and an MBA course at many business
schools all over the world. Whereas it is developed as one of key functions at headquarters at
medium and big companies. Esp., it can be combined with ISO and quality management system
toward a better leadership and management roles in various industries. After our previous paper of “A
set of limited Asian Pacific comparative corporate governance standards”, this one concentrates on
several comparative international standards, so-called a limited comparative set of standards on
corporate governance.
First, it looks at some groups of findings on corporate governance subjects in the post-crisis period. It
found out that companies in these periods need to oversight their legal or compliance activities,
besides suitable policies.
Second, it identified different points in latest corporate governance standard principles and systems in
groups: CFA Corporate Governance Standards and ADB & Hermes’s Corporate Governance Codes.
Third, this paper provide with a summary of evaluation of current corporate governance systems in
these above countries which may enable relevant organizations in re-evaluating their current ones.
Last but not least, it aims to illustrate a limited comparative set of standards of International corporate
governance, so-called backbone and give proper recommendations to relevant governments and
institutions.