CSR management and reporting as stated in the German Sustainability Code have currently gained an increasing relevance in the context of business reporting. Focussing on the comparison with the German Corporate Governance Code, this article investigates the conception and major opportunities and...

This paper studies the short-run announcement effects of compliance with the German Corporate Governance Code (‘the Code’) on firm value. Event study results suggest that firm value is unaffected by the announcement, although such market reactions to the first time disclosure of the...