This article investigates the relation between corporate governance and business ethics in the Asia-Pacific region. It draws on four examples of countries in the region (Australia, China, Singapore, and India), not because they are representative of certain regional characteristics, but as a means of reflecting on the diversity in this region. These countries display pronounced differences in terms of inter alia, historical development, cultural and social factors, legal system, corporate governance model, political system, and economic development. The complex interaction of all these considerations provides the context for corporate governance and business ethics in each of the countries. The article highlights different orientations to stakeholder management and integrity behavior in the boardroom and executives’ offices. Although globalization and financial market hegemony suggests a convergent model is theoretically desirable, this research suggests that the human capacity to protect diversity and enshrine regional and local interests seems likely to inhibit rapid change.

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Corporate governance has been a major issue in the Asia Pacific region since the 'Asian crisis ' of 1997-98 and in Australia following several recent high-profile corporate collapses. Governance issues affect HRM practitioners generally as business people and specifically in their role of developing policies and processes that promote the company's culture and values. This paper compares the development of corporate law and associated regulatory processes in Australia, China, India and Singapore as examples of governance in this geography. These four countries demonstrate the significant diversity of social and cultural patterns and economic development within the total region and corresponding differences in their respective approaches to corporate governance. A common feature of the Asian jurisdictions reviewed here is the high concentration of ownership by national governments and families operating complex corporate structures. Such concentration has direct implications for the level of share market trading and the protection of minority shareholders. The diversity of regional and local cultures will likely inhibit any short-to medium term convergence to international governance standards, although it is probably inevitable if Asian markets continue to access international finance. In the meantime there is a strong need for HRM practitioners to take the lead in shaping, communicating and representing the firm's values and behaviours, internally and externally, to reinforce ethical behaviour and business integrity.

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