ABSTRACT
This chapter argues that changes in corporate governance practices and the implementation of competition policy are two of the most significant policy changes required for a liberalised investment environment in the Asia Pacific Economic Cooperation (APEC) region. Corporate governance can be defined as the set of relationships between a company's management, board, shareholders and stakeholders. Financial institutions have long played a significant role in corporate governance in Japan. It seems likely that best practice guides will become more prevalent throughout the APEC region, leading to further pressure for public corporations to look carefully at their corporate governance practices. It is clear that the Organisation for Economic Cooperation and Development principles on corporate governance tend to favour the Anglo American model of corporate organisation. Economies in the region that have specific competition policies have several related goals in mind. Despite these philosophical and institutional constraints, a consensus is emerging in the APEC region on member economies adopting competition policies.
