Journal ArticleDOI
Compliance with the German Corporate Governance Code: an empirical analysis of the compliance statements by German listed companies
Reads0
Chats0
TLDR
In this paper, the authors examined the overall acceptance of the German Corporate Governance Code recommendations and identified its critical standards that receive comparably less agreement among German listed companies, based on the compliance declarations of 408 firms listed at the Frankfurt Stock Exchange.Abstract:
In 2002, the German Corporate Governance Code was adopted. This paper examines the overall acceptance of the Code recommendations and identifies its critical standards that receive comparably less agreement among German listed companies. The study is based on the compliance declarations of 408 firms listed at the Frankfurt Stock Exchange. The findings indicate a significantly high level of Code conformity which can be expected to increase in the future. Comparative analyses reveal that company size is positively associated with the extent of Code compliance. Neuralgic norms concern the personal liability and compensation of the board members, the staffing of the boards, the structure of the supervisory board and accounting requirements.read more
Citations
More filters
Journal ArticleDOI
An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities
TL;DR: A framework based on open systems approaches to organizations is proposed, which examines these organizational interdependencies in terms of the costs, contingencies, and complementarities of different corporate governance practices.
Journal ArticleDOI
An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities
TL;DR: In this paper, the authors propose an organizational approach to corporate governance and assesses the effectiveness of different corporate governance practices and their implications for policy, which examines these organizational interdependencies in terms of the costs, contingencies, and complementarities of different governance practices.
Journal ArticleDOI
Why Adopt Codes of Good Governance? A Comparison of Institutional and Efficiency Perspectives
TL;DR: In this article, the authors investigated if the main reason behind the proliferation of good governance codes in civil law countries is: (i) the determination to improve the efficiency of the national governance system; or (ii) the will to "legitimize" domestic companies in the global financial market without radically improving the governance practices.
Journal ArticleDOI
Codes of Good Governance
TL;DR: A review of the literature on codes of good governance highlights their rapid spread around the world and how academic research has lagged behind in analyzing this topic as discussed by the authors, despite the criticism that the codes' voluntary nature limits their ability to improve governance practices.
Journal ArticleDOI
Codes of Good Governance
TL;DR: A review of the literature on codes of good governance highlights the rapid spread of codes of governance around the world and how academic research has lagged behind in analyzing this topic.
References
More filters
MonographDOI
Corporate governance : a framework for implementation
TL;DR: In this paper, the authors developed a framework for implementing corporate governance reform in emerging markets and proposed an agenda for action by the World Bank Group and its partners and discussed specific corporate governance challenges.
Journal ArticleDOI
An Investigation into the Determinants of UK Board Structure Before and After Cadbury
TL;DR: This article investigated the determinants of the board structure of non-financial firms prior to, and post, the implementation of the recommendations of the Cadbury Committee and found no evidence that managerial entrenchment is reduced following Cadbury, with the power afforded to CEOs with high levels of stock ownership being significantly diminished following the imposition of new standards of "best practice" regarding board structure.
Journal ArticleDOI
Corporate Governance in Small Companies - the Alternative Investment Market
Christine Mallin,Kean Ow-Yong +1 more
TL;DR: In this article, the authors examined corporate governance in small companies listed on the Alternative Investment Market (AIM) which was established in the UK in 1995 and found that companies brought onto the market by a nominated advisor who also acts as the nominated broker pay more attention to the Cadbury Code on corporate governance.
Journal ArticleDOI
Antecedents and Consequences of Corporate Governance Structures
TL;DR: In this article, the authors used organisation theory to seek an explanation for the relative uniformity of governance structures in public companies in the UK and USA, and reviewed theoretical and empirical evidence of ways in which these structures affect company performance.