A Critical Review on the Corporate Governance, Board Independence and Gender Diversity in Emerging Asian Countries

Abstract

The aim of this study was to identify the role of board independence and gender diversity in corporate governance practiced in emerging Asian countries. Literature was critically examined on the role of board independence and gender diversity in corporate governance for developed and developing countries. The current practices of the emerging nations in Asia were also closely followed. It was observed that despite efforts on the part of governments and policy makers, the emerging states are not being able to fully reap the benefits or realize the significance of board independence and gender diversity in corporate governance. Owing to well rooted cultural traits in the Asian world regarding women, the emerging markets are finding it difficult to let go off their conservative diversity profile. The traditional views on gender diversity and board independence require revision keeping in view the growing trend of women directorship in organizations worldwide. Further research on board independence and gender diversity in the developing Asian countries may help to provide a basis for a paradigm shift and result in better representation of gender at the level of decision making and in influencing corporate governance.

Keywords: Board independence, gender diversity, corporate governance, emerging countries