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India and Singapore Most Independent

Chart of the Day: #India has the highest board independence of 48% versus Asia at 39%


  • We look across 7,000 companies in nine Asian markets
  • Research tends to support the rationale that higher board independence better protects shareholders’ interests
  • India has the highest board independence of 48% compared to the Asian average at 39%, followed by Singapore at 46% and Malaysia at 43%
  • Thailand has the largest average board of directors consisting of 11 directors
  • It is important to note that different countries have different requirements in terms of board independence; it seems to correlate that Philippines and Taiwan are also the markets with the weakest requirements


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