Independent Directors in Singapore: Puzzling Compliance Requiring Explanation
This lecture, the second in the Commercial Law Centre series, was given by Dr Dan Puchniak, Associate Professor, Faculty of Law, National University of Singapore on 11 February 2015. Dr Puchniak presented his research on the place of independent directors in corporate governance in Singapore. He charted the development of the legal regime, explaining how the requirement for independent directors has been seen as one of the main factors behind the extraordinary success of companies in Singapore in the last 40 years.
His presentation questioned this orthodoxy, and suggested other reasons for this success, which particularly focused on the shareholding structure in different types of companies typical in Singapore. He included some interesting and challenging empirical data to support his conclusions, which had implications for assessment of what leads to good corporate governance not only in East Asia but in jurisdictions throughout the world. His talk sparked a great deal of discussion and interest among students and faculty members who attended.