| Emerging markets | ||||||||||
| Rank 2003 | Rank 2002 | Business sector | Total score 100 | Ownership Transparency & Rights 15 points | Financial Transparency 25 points | Board Structure & Process 20 points | Stakeholder Relations 15 points | Alignment of Managerial Interests 25 points | ||
| 1 | 71= | Banco Itau Holding Financeira | Brazil | Banking & Financial | 77.4 | 13.0 | 16.0 | 16.5 | 11.0 | 20.9 |
| 2 | -- | Samsung Electronics LTD | South Korea | Technology | 77.0 | 13.8 | 16.0 | 16.0 | 9.8 | 21.5 |
| 3 | 111= | Itausa - Investimentos Itau | Brazil | Banking & Financial | 76.1 | 12.8 | 17.8 | 15.0 | 10.8 | 19.9 |
| 4 | -- | Corporacion Geo | Mexico | Construction | 75.6 | 12.0 | 16.0 | 18.0 | 12.3 | 17.4 |
| 5 | -- | Hutchinson Whampoa Limited | Hong Kong | Conglomerate | 75.5 | 11.8 | 20.0 | 15.0 | 10.8 | 18.0 |
| 6 | -- | China Resources Enterprise | Hong Kong | Conglomerate | 75.3 | |||||