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Corporate governance: Methodology

Caveat creditor

Euromoney surveyed targeted emerging market companies as of July 15 2006 in one of the following categories:

  • The largest companies as measured by market capitalization according to the MSCI Emerging Markets index, which represented 80% of the market.

  • The following emerging market equity indices: Shanghai Composite (People’s Republic of China); Hang Seng (Hong Kong); Seoul Composite (Korea); KLCI Composite (Malaysia); PCOMP Philippine Stock Exchange (Philippines); Straits Times Index (Singapore); Taiwan SE Weighted Index (Taiwan); SET (Thailand); PX50 (Czech Republic); TALSE Tallinn (Estonia); BUX (Hungary); SENSEX (India); RIGA Stock Exchange (Latvia); VILSE (Lithuania); Wig 20 (Poland); RTSI$ (Russia); Kazakh Stock Exchange (KASE); XU100 (Turkey); Merval (Argentina); Bovespa (Brazil); IPSA (Chile); IPC (Mexico); IBC (Venezuela); JSE (South Africa);

Replies were received from 146 companies. The survey consisted of multiple-choice questions and short answer questions. Our best effort was made to produce a survey and derive results that took into account the various local laws and regulations covering the respondents.

All surveys received were reviewed for completeness and content accuracy. When necessary, companies were contacted again to confirm information and to request documentation to support statements made.

For complete results and a detailed breakdown of how the survey was carried out, please log on to

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