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The International Journal of Management Science and Information Technology (IJMSIT)

The international journal of management Science and information technology (IJMSIT) is a refereed journal and publishes high-quality theoretical and empirical papers in the areas of management science and information technology. This journal reports the impact of information technologies on the managerial and organizational topics. IJMSIT develops a comprehensive and theoretical framework by using a multidisciplinary approach to management and information technology for researchers and practitioners.

 


Editor-in-chief: J. J. Ferreira, University of Beira Interior, Portugal, Email: jjmf@ubi.pt
Published: Quarterly
Copyright: 2012, North American Institute of Science and Information Technology (NAISIT)
ISSN: ISSN 1923-0265 (Print) - ISSN 1923-0273 (Online) - ISSN 1923-0281 (CD-ROM)

BANKING SECTOR GOVERNANCE - LESSONS FROM HONG KONG LISTED BANKS
1 : Issue 1 - (Jul-Sep 2011) ( 2011-07 )

Abstract:

Hong Kong’s financial sector is popular within the banking industry for the range of service providers themselves. Using the case study approach, this paper explores the changes to the boards of directors and governance issues of the 12 listed banks on Hong Kong stock exchange over a three year period. It focuses on issues such as the number of directors on the boards, their qualifications, type of directors in terms of independence, outside directorships held, and the auditors of the financial statements from 2004 to 2006.Through the use of archival data over a three year period, this paper finds that the overall listed banks in Hong Kong exhibit good cor­porate governance, and that this governance has in fact improved in quality over the years. The three year comparison demonstrates that the high level of corporate governance exhibited by the 12 listed banks in Hong Kong from 2004 to 2006 provides a possible explanation to the suc­cess of the region a significant international financial center due to the factors such as absence of duality of CEO and chairman, use of the Big four audit firms, qualifications of directors, and use of independent non-executive directors on the boards. According to Stan wick and Stan wick (2005), the long-term survival of banks is dependent on the success of the boards of directors, as they are the ultimate decision-making bodies of the organizations (Psaros and Seamer, 2002).

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