In their Global Emerging Markets (June, 1998) Flemings Research develops an alternative measure of corporate governance across emerging markets. They asked their country specialists to consider "the disclosure of information, transparency of ownership structures, management and special interest groups, adequacy of the legal system, whether the standards that are set are actually enforced, and if the boards of companies are independent and the rights of minority shareholders are upheld" (p.19). this index therefore tries to capture the extent of shareholder rights in practice. the index runs from one to five with a higher score meaning more rights and they note that "a score of 5 would be awarded to the US - our model market" (p.20). One disadvantage of this