HONG KONG -- Japan's corporate governance ranking in the Asia-Pacific region soared to an unprecedented second place behind only Australia, while Hong Kong slipped from the runner-up position to sixth, according to research released by the Asian Corporate Governance Association (ACGA) on Wednesday.
The ACGA, a Hong Kong-based non-profit organization, describes the latest rankings to be the "biggest shake-up" in over 20 years of this research, which has been scoring corporate governance of 12 markets in the region since 2003. The 11th "CG Watch" report -- compiled in conjunction with CLSA, a unit of Chinese state-owned financial conglomerate Citic -- was conducted by analyzing answers to 108 questions in seven categories from regulators, listed companies, auditors and other stakeholders.
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