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Corporate Governance in the Netherlands: an overview of the application of the Tabaksblat Code in 2004


Author Info

  • Dirk Akkermans

    (Faculty of Economics and Business, University of Groningen, The Netherlands)

  • Hans van Ees
  • Niels Hermes

    (Faculty of Economics and Business, University of Groningen, The Netherlands)

  • Reggy Hooghiemstra

    (Faculty of Economics and Business, University of Groningen, The Netherlands)

  • Gerwin Van der Laan

    (Faculty of Economics and Business, University of Groningen, The Netherlands)

  • Theo Postma

    (Faculty of Economics and Business, University of Groningen, The Netherlands)

  • Arjen van Witteloostuijn

    (University of Antwerp, Belgium, University of Durham, UK and Utrecht University, The Netherlands)


This article examines the overall acceptance of the best practice provisions contained in the Dutch corporate governance code and identifies those that receive comparably less agreement among 150 Dutch listed companies in 2004. The findings indicate a high level of compliance with the Code. Moreover, the extent of compliance is positively associated with company size. Provisions related to the remuneration of board members, independence of supervisory board members, and requirements with respect to internal control systems stand out when it comes to non-compliance. In addition, the nature and content of the explanations provided for non-compliance are remarkably similar across companies, which may indicate symbolic compliance with the Code's best practice provisions. Copyright (c) 2007 The Authors; Journal compilation (c) 2007 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Corporate Governance: An International Review.

Volume (Year): 15 (2007)
Issue (Month): 6 (November)
Pages: 1106-1118

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Handle: RePEc:bla:corgov:v:15:y:2007:i:6:p:1106-1118

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Cited by:
  1. Gerhard Schnyder, 2008. "Revisiting the Party Paradox of Finance Capitalism: Evidence from Switzerland, Sweden and the Netherlands," ESRC Centre for Business Research - Working Papers wp372, ESRC Centre for Business Research.
  2. Arping, Stefan & Sautner, Zacharias, 2010. "Corporate governance and leverage: Evidence from a natural experiment," Finance Research Letters, Elsevier, vol. 7(2), pages 127-134, June.
  3. Stefan Arping & Zacharias Sautner, 2010. "Corporate Governance and Leverage: Evidence from a Natural Experiment," Tinbergen Institute Discussion Papers 10-019/2, Tinbergen Institute.
  4. Tariq, Yasir Bin & Abbas, Zaheer, 2013. "Compliance and multidimensional firm performance: Evaluating the efficacy of rule-based code of corporate governance," Economic Modelling, Elsevier, vol. 35(C), pages 565-575.
  5. Pieter-Jan Bezemer & Stefan Peij & Gregory Maassen & Han Halder, 2012. "The changing role of the supervisory board chairman: the case of the Netherlands (1997–2007)," Journal of Management and Governance, Springer, vol. 16(1), pages 37-55, February.


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