Corporate governance is an extremely under-researched area for most countries in the world.
The available literature by and large pertains only to a few advanced countries - UK, USA, Japan and Germany. On corporate governance in developing countries, barring a few notable exceptions, there is hardly any literature at all. The issues relating to corporate governance in emerging markets have, however, assumed special significance in the context of the recent financial and economic crisis in East Asia. The failings of the governance mechanisms in the corporate sector and distortions in the competitive process have received special scrutiny. Following this analysis, the affected countries have been asked to re-structure their corporate and financial sectors and to implement far reaching reforms in their corporate governance mechanisms.