Can Corporate Governance be Rated? Ideas based on the Greek experience
AbstractThe paper presents an attempt to quantify the compliance of Greek companies with international best practices. Based on 37 indicators (composed out of 54 questions) it was found that Greek companies demonstrate a fairly satisfactory degree of compliance with OECD guidelines. Their weak points lie in: the role of stakeholders and corporate social responsibility; the organisation of CG; the effective role of the independent members of the board (which may be attributed to the small size of the pool of potential independent board members); disclosure of remuneration; and risk management. Methodologically, the merit of the exercise lies in its approach towards the creation of "collectively subjective" weightings, an effort to discuss the benefits of separating the rating of the market from the rating of companies and the discussion on typologies of work that can be effectively performed through rating exercises. Copyright Blackwell Publishing Ltd. 2004.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Corporate Governance.
Volume (Year): 12 (2004)
Issue (Month): 1 (01)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1
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- Spanos, Loukas, 2005. "Corporate governance in Greece: developments and policy implications," MPRA Paper 42901, University Library of Munich, Germany.
- Windsor, Duane, 2009. "Tightening corporate governance," Journal of International Management, Elsevier, vol. 15(3), pages 306-316, September.
- Spanos, Loukas & Tsipouri, Lena & Xanthakis, Manolis, 2006. "Corporate governance rating in a small open capital market: Methodology and applications in the Greek market," MPRA Paper 42896, University Library of Munich, Germany.
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