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Based on a comparison of corporate governance initiatives in Asia with those in other parts of the world, the notion of an "Anglo-Saxon" or "Asian" governance model is irrelevant. The pace and flavor of corporate governance reform vary from country to country, depending on a country’s particular regulatory and legal environment, the extent of government support, companies’ recognition of the need for change, and the strength of the country’s governance infrastructure. Governments, stock exchanges, and private sector groups across the region, however, have accepted that certain governance standards need to be followed to keep up with the pace of globalization.
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