Corporate governance in the UK: Is the comply or explain approach working?
We examine the effectiveness of the "Comply or Explain" approach to corporate governance in the UK. Using a unique database of 245 non-financial companies for the period of 1998-2004, we find an increasing trend of compliance with the Combined Code, but a frequent use of standard explanations in case of non-compliance. We show how the Combined Code has been interpreted and applied, and we discuss the existence of enforcement and monitoring problems. We make recommendations so that the approach could be strengthened with the greatest possible benefits.
Year of publication: |
2010
|
---|---|
Authors: | Arcot, Sridhar ; Bruno, Valentina ; Faure-Grimaud, Antoine |
Published in: |
International Review of Law and Economics. - Elsevier, ISSN 0144-8188. - Vol. 30.2010, 2, p. 193-201
|
Publisher: |
Elsevier |
Keywords: | Corporate governance Comply or explain Combined Code |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Corporate governance in the UK : is the comply or explain approach working?
Arcot, Sridhar, (2010)
-
Corporate governance in the UK : is the comply-or-explain approach working?
Faure-Grimaud, Antoine, (2005)
-
Corporate governance in the UK: Is the comply or explain approach working?
Arcot, Sridhar, (2010)
- More ...