香港金管局_银行的公司治理(英文)

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1、CorporateGovernanceinBanks“NewBankingGuidelinesandCorporateGovernancebetweenIndustries”DavidCarseDeputyChiefExecutiveHongKongMonetaryAuthority26April2001IntroductionMyremitistotalkaboutournewbankingguidelinesandaboutcorporategovernance“betweenindustries”Inpractice,thismeansexplainingwh

2、ycorporategovernanceisparticularlyimportantforbanksascomparedwithotherindustriesTheimportanceofcorporategovernanceCorporategovernanceisthesystembywhichcompaniesaredirectedandcontrolledItisakeyissueinrelationtolistedcompaniesbecauseoftheseparationbetweenownershipandmanagementwhichlisting

3、promotes(givingrisetotheso-called“agencyproblem”)theneedtoprotectminorityshareholdersHence,thefocusincorporategovernanceontheneedforindependentdirectorsThespecialcaseofbanksTheaboveconsiderationsalsoapplyinrelationtolistedbanksButthereareotherreasonswhycorporategovernanceisparticularlyi

4、mportantforbanks,bothlistedandunlistedhighleverageexposesbankstoriskandplacesincreasedfocusontheneedtoprotectcreditors(notjustinvestors)banksarelookingafterotherpeople’smoney,butrisk-takingiscentraltotheiractivitiestherearepotentiallyhugesystemicproblemsifbanksgetintodifficultiesTherole

5、ofbadcorporategovernanceintheAsiancrisisWeakcorporategovernanceinAsianbankswasoneofthekeyfactorsintheAsiancrisismanybankswerecontrolledbyowner-managersandtheboardofdirectorsplayedlittlerolebankswereoftenpartsofwiderconglomeratesandwereusedtofundotherpartsofthegrouportheowners(connectedl

6、ending)managementwasnotprofessionalandlackedself-responsibilitygrowthwasmoreimportantthanreturnoncapitalriskmanagementwaspoorTheroleofregulationThepotentialforbankingcrisisexplainswhybanksareregulatedTraditionallythishasbeenatop-downprocessregulatorslaydownrulesandtrytoenforcethemIncrea

7、singly,however,thetrendistowardssupervisionratherthanregulationThisplacesthemainemphasisonthekeyroleofthedirectorsandseniormanagementinensuringthatbanksareprudentlymanagedTheroleofsupervisionTheabovetrendbringscorporategovernancetotheforerecognisesthatbankingistoocomplextoberun