Download or read book Reassessing the convergence thesis An analysis of the 2018 2019 Corporate Governance Codes of the United Kingdom and Germany written by Thomas Böhm and published by GRIN Verlag. This book was released on 2019-11-08 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2019 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: A, University of Edinburgh (Edinburgh Law School), course: Dissertation in Law, language: English, abstract: This paper presents a reassessing the convergence thesis. It takes the adoption of the new German Corporate Governance Code 2019 ("GCGC") as an opportunity to verify the thesis whether signs of convergence of contrasting corporate governance systems towards a single model are evident. For this purpose, a comparative analysis of the GCGC and the UK Corporate Governance Code 2018 ("UKCGC") is conducted. The UKCGC and the GCGC originate from competing corporate governance systems – the UK (enlightened) shareholder value model and the German stakeholder model – so the two Codes are ideally suited for a comparative analysis to verify the convergence thesis. It shows that the advancing globalization has generally contributed to a shift towards an Anglo-American corporate governance pattern in European countries. Convergence is also attributable to the harmonization of national laws through EU legislation. The comparative analysis of the UKCGC and the GCGC reveals broad signs of convergence with a large number of similar corporate governance mechanisms and provisions. Nevertheless, there are still region-specific differences in the Corporate Governance Codes that can be traced to the underlying corporate governance philosophy. However, board practice demonstrates that the structural differences between the two corporate governance systems are blurring. The comparative analysis also illustrates that the Corporate Governance Codes are converging from both sides.
Download or read book Corporate Governance Codes for the 21st Century written by Jean J. du Plessis and published by Springer. This book was released on 2017-04-19 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is the first comprehensive consideration, since the UK Cadbury Report recommended a voluntary Corporate Governance Code, of the question whether Corporate Governance Codes are the most effective way of ensuring adherence to good corporate governance principles. There is no doubt that the idea of voluntary compliance with good corporate governance practices, based on the principle of ‘comply or explain’, has captured the imagination of the world. It is probably one of the best and most comprehensive examples of ‘self-regulation’ ever seen in any area where the society could be affected significantly, for current purposes by corporations.However, is this the most effective way of ensuring that corporations act responsibly and adhere to good corporate governance principles? Have these Codes really improved corporate governance practices significantly? Is it time for a rethink and, at least in certain areas, start to rely more on ‘hard law’ and clearer expectations to ensure compliance? All these issues are addressed in the book.
Download or read book Convergence Or Divergence written by Merel van Keulen and published by . This book was released on 2005 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Cadbury Code and Recurrent Crisis written by Donald Nordberg and published by Springer Nature. This book was released on 2020-09-08 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book raises questions about a hallmark mechanism of corporate governance – the use of codes of practice. It undertakes a critical examination of the origins and development of the UK code of corporate governance, which influenced codes devised around the world and practices of organisations well beyond the world of corporations listed on stock exchanges. Much lauded as a model of good governance, its core principles have persisted for almost 30 years. Yet during that time repeated crises in corporate governance have arisen, suggesting that it has not fully addressed the problem it was meant to solve. This book will be valuable reading for scholars working on business ethics, corporate governance, and business history.
Download or read book Protecting Societal Interests in Corporate Takeovers written by Huizi Ai and published by Springer Nature. This book was released on 2022-11-18 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explores “what are the societal interests that may be affected by a takeover, are these protected under the current regulatory frameworks of the U.K., Germany, and China, (and if so) how are they protected and what recommendations can be made for future reforms in the three jurisdictions?” The book adopts three main methods: law and economics analysis, doctrinal legal research, and comparative analysis. The content of this book is intended not only for the academia; it may also benefit the policy makers by providing an evaluation on the strengths and weaknesses of different protection mechanisms and recommendations for future reforms. Besides, companies which are (potentially) interested in conducting takeovers in the three countries may also find this book useful with its overall analysis of the regulatory frameworks and representative takeover cases in the jurisdictions.
Download or read book Continuity Or Change written by University of the West of England and published by . This book was released on 2008 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Shareholder Empowerment written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2010 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Proliferation of Corporate Governance Codes in the Backdrop of Divergent Ownership Structures written by Umakanth Varottil and published by . This book was released on 2018 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the backdrop of the convergence-divergence debate, the goal of this article is to examine the proliferation of corporate governance codes in the light of a single factor, namely varying corporate ownership structures across countries. While such codes emanated and became popular in the United Kingdom (UK) where companies largely display dispersed shareholding, the concept has been disseminated to countries that carry considerably different ownership structures, i.e., mainly concentrated shareholding. This is bound to give rise to incongruities in the implementation of these codes. In order to enunciate the claim made above, the article will consider two aspects that convergence advocates have focused on, namely (i) shareholder empowerment, and (ii) self-regulation. For example, corporate governance codes place considerable emphasis on the structure and independence of the boards of directors of companies as a means to ensure shareholder protection. While this approach is meant to produce results in companies with dispersed shareholding, the same cannot be said of companies with concentrated shareholding where the empowerment of shareholders through director independence or other means would only embolden the already dominant controlling shareholders. Moving to self-regulation, a voluntary code operating on a “comply-or-explain” basis can demonstrate success only if certain factors are present in the jurisdiction where it is applied. Relying upon available empirical evidence, this chapter finds that use of self-regulation in voluntary codes of corporate governance may generate different results depending upon the ownership structures of companies, thereby exhibiting signs of divergence on this count.
Download or read book International Competition between Corporate Governance written by Blanca-Monica Panqueva-Bernal and published by Cuvillier Verlag. This book was released on 2006-02-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation has shown that indeed the internationalization of production systems and the globalization of the markets for goods, services and capital have triggered and intensified the competition between corporate governance systems. Similar to the competition in other economic areas, where, for example, domestic goods and factor prices tend to converge to the world prices after opening to international competition, over the years the traditionally diverse corporate governance systems have become more homogeneous. The elements, provisions and aspects where convergence has made more progress are: boards’ form and functions, strong minority shareholders’ rights, universal banking systems, bankruptcy law, the capital market as an important corporate financing source, investor-oriented accounting standards (e.g. IFRS) and employee ownership as a means to motivate staff to undertake firm-specific investments. However, convergence does not mean that the national systems have equally moved towards each other, rather the Principal-Agent model, followed by the USA, has prevailed. The main reason for the dominance of the Principal-Agent model seems to be the preponderance of the US-economy, particularly on global financial markets. Although this is not a topic of this dissertation, in the last two decades a competition between capital market- and bank-centered financial systems can be observed. The capitalmarket centered financial system, recommended by the Principal-Agent model, has gained importance, whereas the traditional leading position of credit institutions has impressively decreased.
Download or read book UK Corporate Governance Code written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transplanting Corporate Governance Codes The Role of Legal Doctrine written by Eva Micheler and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this presentation is twofold. The immediate inspiration for this presentation was an article published in a socio-economic journal published in the summer of 2011 presenting the findings of research funded by the Deutsche Forschungsgemeinschaft in the years 2005 to 2009 on the transformation of corporate governance regulation in the UK, Germany and the US. The presentation also (almost) coincides with the 10 year anniversary of the first German Corporate Governance Code which was presented in February 2002 and of the first Austrian Corporate Governance Code which was presented in October 2002. The presentation aims to contribute to the debate on legal transplants which analyses whether and to what extent the legal rules of one jurisdiction can be transplanted into another legal system. It is an empirically observable fact that legal transplants have occurred throughout legal history and continue to occur today. Starting with Montesquieu's famous book, L'Esprit des Lois which was first published anonymously in 1748 and has since been subject to many re-editions and translations the topic of legal transplants has continued to fuel academic interest right through to modern times. Corporate Governance Codes are a good test case for academic theories on legal transplants. This is because they are an obvious transplant. This is evidenced by terms such as the term 'corporate governance code' itself or the term 'comply or explain' both of which are used in the context of otherwise German language publications. Moreover, the succession of events starting with the adoption of the first code in the UK and then its quick spread across Europe including Austria and Germany show that a transplant has occurred. Transfers are generally believed to be easy to identify when they involve legal rules that are introduced in rapid sequence in various places. Given that the spread of codes occurred roughly 10 years ago, it seems appropriate to examine how the originally UK code was received. The presentation will focus on Austria with glances across the border to Germany. Both countries have adopted corporate governance codes. Both countries did this because they felt that they needed a code that was like the UK code. The presentation will reject that proposition that political forces are the only criterion which explains why the German and Austrian Corporate Governance Codes are different from the UK Code which both were taking inspiration from. It will show that incumbent Austrian and German legal doctrine also determines the way in which transplanted rules are understood. Before this is done I will give a short overview of what has been said so far about transplants and about the influence of politics on transplants.
Download or read book Can National Corporate Governance Codes Sufficiently Converge to Protect Diverse Interests within the European Union written by Tim F. Atkins and published by . This book was released on 2004 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the role of the convergence of national corporate governance codes affecting listed public limited companies within the EU member states. It assesses this process against the need for protection of stakeholders and public interests. The first chapter looks to company structure and the inherent opportunities which it provides. The second chapter deals with the political, historical, economic, and social background to current corporate governance codes and concerns. Chapter three identifies the relevant stakeholder and public interests in the context of the EU single market. Chapter four sets out the problems with de facto corporate governance code convergence and enforcement whilst linking these issues to the problem of Company Law divergence between EU member states, and then examines the role of contiguous convergence in overcoming these problems. Chapter five examines the role of the EU institutions in promoting convergence and assesses achievements that have been made and prospects for the future. The paper is then concluded with chapter six briefly drawing the conclusions together.
Download or read book The German Corporate Governance Code written by Kristina Katharina Beisel and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Corporate Governance Convergence the Choice of UK as a Relevant Reference for Corporate Governance Study in China written by Jianyue Xu and published by . This book was released on 2010 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Corporate Governance Convergence the Choice of UK as a Relevant Reference for Corporate Governance Study in China written by Jianyue Xu and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Convergence in Corporate Governance written by Keshav Dahiya and published by . This book was released on 2006 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Legal Convergence of Corporate Governance Regimes in the UK and France written by Graham Peter Christie and published by . This book was released on 2007 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
