{"_buckets": {"deposit": "2584369d-b99b-426f-a2fd-68def075a9c9"}, "_deposit": {"created_by": 20, "id": "8706", "owner": "20", "owners": [20], "owners_ext": {"displayname": "", "username": ""}, "pid": {"revision_id": 0, "type": "depid", "value": "8706"}, "status": "published"}, "_oai": {"id": "oai:meral.edu.mm:recid/00008706", "sets": ["1582963436320"]}, "author_link": [], "control_number": "8706", "item_1583103067471": {"attribute_name": "Title", "attribute_value_mlt": [{"subitem_1551255647225": "Corporate Governance in Myanmar with Reference to Selected South-East Asian Countries (Aung Kyaw, 2016)", "subitem_1551255648112": "en"}]}, "item_1583103085720": {"attribute_name": "Description", "attribute_value_mlt": [{"interim": "The literature sllrvey o1\u0027 thc stLrcly shou,s that corporate governance systems of the\ncountries in the world are generaliy classified into three models. The system practised in U.S. and\nWestern Europe is referred to as Equity Market-Based System(EMS) because it is based on wellliquid\nsecurities market, arm-length investors\" ef\u0027fectil,e nrarket for corporate control. strict rules\nof disclosure and strong penalties for the breach of provisions of disclosure rule and insiders\u0027\ntrading. The system that adopted in Germany and Japan is linown as Bank-Led System (BLS).\nThis system relies upon interlocking relationships among conrpanies and financial institutions.\nShareholders are long-term and relationship-oriented investors in this system. The corporate\ngovernance system in Asia is commonly tenned as Farnily-Based System (FBS). This is because\nlarger percentage of shares is held by a family or a groLrp of farrilies and tire rest is owned by\nnumerous outside investors even though these corporations are listed in the Stock Exchange.\nFamily investors are more control-oriented over a nlimber of corporations rather than making\nprofit from a single corporation. Controlling families try to enhance their control by using debt\nthat resulted in excessive borroiving and highly levcragecl corporations. This situation led to\n-A.sian financial crisis in l99l . After the crisis, crisis-hit cor.intries fi\u0027orr Sor.rth-East Asia including\nThailand, Malaysia and indonesia try to improve their corporate governance by initiating several\nreform measures by using internationally recognized standards as benchmarks.\nFrom the cultural point of view, a corporate governance systern of a country emerged fron-r\n::s cultures and traditions, social values, and re lationships of people. \u0027[\u0027hesc differences in cr.rltLrral\n::d social values inflr\"rence tlte way of thinl\u003cing artci cloing busincsscs ancl sr\"rbsequently the way of\n:overning corporations. Thereflore, corporate govemancc syslen-r of a country is a result of\n::iterplay among tl\u0027rese factors; it cannot transf\u0027er clirectly to othcr systems without rnoditi,ing or\n:ranging the underlying basic social values o1\u0027 thc society. To eliectively design corporate\n:.rverrrance system, a country should consicier its o*,n uncierlying cr,rltLrres and value systems.\nIn this study, an attempt has been rnade to analyze cLrrrent situation of the corporate\n:,lvernance of Myanmarpublic corporations based on the clata collected lrom l5 registered public\ntions. The study also analyzed country-level corporate governance such as corporate law\nlegal framework, regulatory bodies, securities market and professional institutions that\nIII\ncorporate sector of the country. In order to provicle nlore comparative information,\ngovernance systems of seleoted South-East Asian countrios - Malaysia, Indonesia ancl\nand - were arralyzecl in thc stirrlt,.\nCorporate governilnce ol\u0027Malitysia ancl \u0027l\u0027hailanil are uscrl as benchrnark ancl comparecl\nthat of Myanmar. \u0027Ihe rnain ob.iective of thc stucll, is to recor.r\u0027rmencl appropriate corporatc\nsystem u\u0027hicir is conclr,rcii\u0027e to lilstcring ol\u0027an cf llcient ancl cl\u0027l-cctive markct economic\nfor Myanrlar. \u0027fhe effective\u0027ness o1\u0027llrnr-levcl corporatc sovernance is cletermined by the\nof shareholders, the elfecliveness of the board\" tmi\"rsparency ancl disclosure of infbrmation\nthe role of stakeholders in line r.vith the OECD\u0027s principles of corporate govemance.\nThe study reveals that Myanmar corporate sector is characterized by twin features of sopure\npublic corporations fbrurded by business associatcs on one side and semi-governntent\nons on the other. F\u0027rorn analysis of the sur\\/ey data collected. the study shows that good\ngovernance is positivell\u0027associated i.vith the firnt\u0027s perfirrntance. It also shows that high\np concentration cotrtributcs io ct-fectir,c iltaltlgcntcill u,l)cr-r cxternal protectiog\nare weak and highcr orvttership corrccntrution in the llrrtr tencls to lor,i,er thc\ntion disclosr\"irc\nThe study recotnntettcls lhat Myannrar shoLrlcl start ri,ith existing associate-bascci\ntions by making them to nrore systenraticalll,strLrcturecl. It nreans Mvannrar shor-rld first\non improving national stanclards of regulations and corporate governance practices of\ncorporations. The study also poirrts out thal ethical ancl visionary leaclership ai-rcJ\nculture are essential elernents in fostering corporate governance practices r,vith ref\u0027erence\nthe case study of First Private Bank Ltd. The implication for Myanrnar public corporations is\nthey should promote good leaders \u0027uvho can generate culture u,ithin the corporation that is\nle for good corporate govenrance. By implernenting r,ncl lrrornoting goocl corporate\nce practices at tlie llrnt-lcvel, investors rvill have ntore tlr-rst in these corporations and\nr-rently they are more u,illing to invest in thern. Myanntar shor-rlcl also learn the experience\nneighboring countries ir-r designing and devolving its corporate governance system. By doing\nMyanmar can craft its own corporate governance sl,stcrn lhat is appropriatc to the\ntics of the cottntry in line rvith the ob.jcctive:s ol\u0027nrarkct-oricntscl economic system."}]}, "item_1583103120197": {"attribute_name": "Files", "attribute_type": "file", "attribute_value_mlt": [{"accessrole": "open_access", "date": [{"dateType": "Available", "dateValue": "2023-01-29"}], "displaytype": "preview", "download_preview_message": "", "file_order": 0, "filename": "Aung Kyaw, PhD.pdf", "filesize": [{"value": "155.6 MB"}], "format": "application/pdf", "future_date_message": "", "is_thumbnail": false, "licensetype": "license_0", "mimetype": "application/pdf", "size": 155600000.0, "url": {"url": "https://meral.edu.mm/record/8706/files/Aung Kyaw, PhD.pdf"}, "version_id": "a48470b6-ece7-4118-8f35-870a16a85c1f"}]}, "item_1583103233624": {"attribute_name": "Thesis/dissertations", "attribute_value_mlt": [{"subitem_awarding_university": "Yangon University of Economics", "subitem_supervisor(s)": [{"subitem_supervisor": "Professor Dr. Khin May Hla"}]}]}, "item_1583105942107": {"attribute_name": "Authors", "attribute_value_mlt": [{"subitem_authors": [{"subitem_authors_fullname": "Aung Kyaw"}]}]}, "item_1583108359239": {"attribute_name": "Upload type", "attribute_value_mlt": [{"interim": "Other"}]}, "item_1583108428133": {"attribute_name": "Publication type", "attribute_value_mlt": [{"interim": "Dissertation"}]}, "item_1583159729339": {"attribute_name": "Publication date", "attribute_value": "2016-09-01"}, "item_title": "Corporate Governance in Myanmar with Reference to Selected South-East Asian Countries (Aung Kyaw, 2016)", "item_type_id": "21", "owner": "20", "path": ["1582963436320", "1582965742757"], "permalink_uri": "https://meral.edu.mm/records/8706", "pubdate": {"attribute_name": "Deposit date", "attribute_value": "2023-01-29"}, "publish_date": "2023-01-29", "publish_status": "0", "recid": "8706", "relation": {}, "relation_version_is_last": true, "title": ["Corporate Governance in Myanmar with Reference to Selected South-East Asian Countries (Aung Kyaw, 2016)"], "weko_shared_id": -1}