Corporate governance practices in Europe: A descriptive study
| Autor: | Andrea Fradeani, Jackie Di Vito, Eldi Metushi |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
050208 finance
Corporate governance Management and Accounting (all) business.industry 05 social sciences Stakeholder Chief audit executive Accounting Auditor independence General Business Management and Accounting Audit committee independence Board independence Ownership concentration Business Management and Accounting (all) Internal audit 0502 economics and business Business Descriptive research 050203 business & management |
| Zdroj: | Corporate Ownership and Control. 13:238-249 |
| ISSN: | 1810-3057 1727-9232 |
| DOI: | 10.22495/cocv13i2c1p5 |
| Popis: | Our study examines corporate governance practices in Europe according to the best practice guidelines of 17 countries. We particularly focus on the independence criteria of Board members. Doing so, we wish to understand how these best practices are enforced in the actual corporate governance guidelines in each country. To better define the independence criteria, which is very different among European countries, we develop our own measure of independence, taking into account the strictest criteria of independence recommended in the corporate governance codes of the studied countries. Then, we gather firm-level statistics on a sample of 463 European firms to understand whether the best practice guidelines are actually enforced by these firms. Hence, we contribute to the existent literature by presenting descriptive statistics on the compliance of European firms to their national guidelines. Our findings show that most European firms tend to comply with their local best practice guidelines of corporate governance. We also document a high compliance of our European sample-firm with the Anglo - Saxon best practices of corporate governance. |
| Databáze: | OpenAIRE |
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