Building on sand

The world is watching as Asia faces its biggest test since the financial crisis. As corporations in the region restructure to unwind corporate cross-shareholdings and to professionalize family-owned businesses - and as bank lending is insufficient for their expansionary needs - they will increasingl...

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Bibliographic Details
Published in:Asian business 1999-08, Vol.35 (8), p.8
Main Author: Brancato, Carolyn Kay
Format: Article
Language:English
Subjects:
Corporate governance
Development banks
Economic conditions
Economic indicators
Emerging markets
Family owned businesses
Institutional investments
International finance
Investment policy
New stock market listings
Pension funds
Portfolio management
Reforms
Securities markets
Stock exchanges
Stockholders
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Summary:The world is watching as Asia faces its biggest test since the financial crisis. As corporations in the region restructure to unwind corporate cross-shareholdings and to professionalize family-owned businesses - and as bank lending is insufficient for their expansionary needs - they will increasingly seek global capital and come face-to-face with demanding US investors. Hugh Young, the managing director of Aberdeen Asset Management Asia, warns that if fund managers return to offering companies money hand over fist without concern for good governance, progress will be lost until the next downturn.
ISSN:0254-3729
1560-7054