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Sarbanes Oxley gives US public companies a big incentive to go private, to escape burdensome over-regulation. Here's an example of how Taiwanese public companies face the same problems -- due to regulations restricting doing business with mainland China. Our friend Mike Kurtz writes in the Asia Wall Street Journal:

...the recent NT$179 billion ($5.46 billion) private equity offer for Taiwan's Advanced Semiconductor Engineering...puts a price tag on commercial opportunities sacrificed by Taipei's China-phobic policies, laying bare the real costs of neglecting economics and likely blazing a trail for other so-called "vulture capitalists" to follow.

At an offer price of NT$39 per share, the late November bid by the Carlyle Group and its consortium partners was 10% higher than ASE's local share price at the time.

...A large part of the "value proposition" underlying Carlyle's buyout offer lies in charting a way for ASE to invest more fully in mainland China, where current Taiwanese policy restrictions considerably limit local firms' access. A key existing constraint, for example, restricts Taiwanese companies' investments on the mainland to no more than 40% of net asset value. Other strictures include curbs on the levels of semiconductor and flat-screen production technology that can be relocated to China, and restrictions on regular and direct cross-Strait air and sea navigation. Taiwan's banks also remain shut out of the mainland due to a lack of formal guidelines from their government regulator.

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