On February 14, 2017 the Hong Kong Institute of Directors (KHIoD) announced the results of the 2016 KHIoD Corporate Governance Scorecard.
In a press release, the HKIoD explained: “The surveyed sample consisted of 120 firms versus 121 in the last survey in 2012. The survey also corresponded to the OECD Principles of Corporate Governance (2015 edition) to include new areas of assessment, such as risk management structure and functions, CSR reporting timeliness and quality, and structure of the corporate governance committee, reflecting corporate governance development that took place in the past few years and latest requirement. Comparing the two latest score-cards, excluding the new areas of assessment, the mean CGI score of sample companies in the 2016 survey improved by 5.1%. However, when it comes to the new assessment areas, the sample companies’ performance appeared stagnant.
The survey found, worthy of notice, room for improvement in corporate governance among companies newly listed and new constituents of indices in the past four years. That pointed to the need for company directors to stay up to speed with corporate governance developments and gain new knowledge so that they may drive the sustainable and professional development of the corporation that they serve.”
You may read the press release on the HKIoD internet site.