The importance of disclosure in corporate governance self-regulation across Europe: A review of the Winter Report and the EU Action Plan
Although self-regulation has proven to be effective for the development of voluntary corporate-governance codes, the results of this study indicate that leading European companies are not yet too concerned about compliance with these codes. While self-regulation appears to be ineffective to change the disclosure practices of companies, the study concludes that factors relevant for choosing regulatory forms and the impact and risks involved with non-compliance of companies with voluntary codes have determined the Winter Report’s emphasis on self-regulation.
|Keywords||Winter Report, board disclosure in Europe, business, corporate-governance codes, finance, international standards and regulatory forms, law, self-regulation|
Maassen, G.F., van den Bosch, F.A.J., & Volberda, H.W.. (2004). The importance of disclosure in corporate governance self-regulation across Europe: A review of the Winter Report and the EU Action Plan. International Journal of Disclosure and Governance, 1(2), 146–159. Retrieved from http://hdl.handle.net/1765/6455