IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

The impracticality of an international “one size fits all” corporate governance code of best practice

  • Marlene Davies
  • Bernadette Schlitzer
Registered author(s):

    Purpose – The purpose of this paper is to review corporate governance literature from an international perspective in terms of having a global code of corporate governance. Design/methodology/approach – Using a wide ranging literature review, the paper looks at the issue of a global corporate governance code of best practice from legal, corporate ownership structure and financial systems perspectives and the consequent/divergence issues that arise. Findings – The paper supports the hypothesis that the “one size fits all” approach to corporate governance, particularly the Anglo Saxon model, is not necessarily the right approach from a global perspective. Convergence on fundamental features of shareholder protection, independence of directors and establishment of committees may be the preferred way forward. Practical implications – The acceptance of a global corporate governance code is limited due to the adaptations in the business environment, investor confidence and corporate successes and failures. Originality/value – The analysis of the framework provides an interesting paper for corporate governance researchers.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.emeraldinsight.com/journals.htm?issn=0268-6902&volume=23&issue=6&articleid=1733191&show=abstract
    Download Restriction: Cannot be freely downloaded

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Emerald Group Publishing in its journal Managerial Auditing Journal.

    Volume (Year): 23 (2008)
    Issue (Month): 6 (July)
    Pages: 532-544

    as
    in new window

    Handle: RePEc:eme:majpps:v:23:y:2008:i:6:p:532-544
    Contact details of provider: Web page: http://www.emeraldinsight.com

    Order Information: Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
    Web: http://emeraldgrouppublishing.com/products/journals/journals.htm?id=maj Email:


    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Paul Collier & Mahbub Zaman, 2005. "Convergence in European Corporate Governance: the audit committee concept," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(6), pages 753-768, November.
    2. Christel Lane, 2003. "Changes in corporate governance of German corporations: convergence to the Anglo-American model?," ESRC Centre for Business Research - Working Papers wp259, ESRC Centre for Business Research.
    3. Guy S. Liu, 2005. "Comparative Corporate Governance: the experience between China and the UK," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(1), pages 1-4, 01.
    4. Thakor, Anjan V., 1996. "The design of financial systems: An overview," Journal of Banking & Finance, Elsevier, vol. 20(5), pages 917-948, June.
    5. Brian R. Cheffins, 2003. "Will Executive Pay Globalise Along American Lines?," Corporate Governance: An International Review, Wiley Blackwell, vol. 11(1), pages 8-24, 01.
    6. Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
    7. Andrea Melis, 2000. "Corporate Governance in Italy," Corporate Governance: An International Review, Wiley Blackwell, vol. 8(4), pages 347-355, October.
    8. Istemi S. Demirag & Jill F. Solomon, 2003. "Guest Editorial: Developments in International Corporate Governance and the Impact of Recent Events," Corporate Governance: An International Review, Wiley Blackwell, vol. 11(1), pages 1-7, 01.
    9. Yafeh, Yishay, 2000. "Corporate Governance in Japan: Past Performance and Future Prospects," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 74-84, Summer.
    10. Licht, Amir N. & Goldschmidt, Chanan & Schwartz, Shalom H., 2005. "Culture, Law, and Corporate Governance," International Review of Law and Economics, Elsevier, vol. 25(2), pages 229-255, June.
    11. Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, 04.
    12. Prowse, Stephen D, 1992. " The Structure of Corporate Ownership in Japan," Journal of Finance, American Finance Association, vol. 47(3), pages 1121-40, July.
    13. Marco Becht & Fabrizio Barca, 2001. "The control of corporate Europe," ULB Institutional Repository 2013/13302, ULB -- Universite Libre de Bruxelles.
    14. Kami Rwegasira, 2000. "Corporate Governance in Emerging Capital Markets: whither Africa?," Corporate Governance: An International Review, Wiley Blackwell, vol. 8(3), pages 258-267, 07.
    15. Gerhard Cromme, 2005. "Corporate Governance in Germany and the German Corporate Governance Code," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 362-367, 05.
    16. Alvaro Cuervo, 2002. "Corporate Governance Mechanisms: a plea for less code of good governance and more market control," Corporate Governance: An International Review, Wiley Blackwell, vol. 10(2), pages 84-93, 04.
    17. Denis, Diane K. & McConnell, John J., 2003. "International Corporate Governance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(01), pages 1-36, March.
    18. Henry Hansmann & Reinier Kraakman, 2000. "The End Of History For Corporate Law," Yale School of Management Working Papers ysm136, Yale School of Management, revised 01 Feb 2001.
    19. Michael J. Peel & Edmond O'Donnell, 1995. "Board Structure, Corporate Performance and Auditor Independence," Corporate Governance: An International Review, Wiley Blackwell, vol. 3(4), pages 207-217, October.
    20. Andreas Hackethal & Reinhard H. Schmidt & Marcel Tyrell, 2005. "Banks and German Corporate Governance: on the way to a capital market-based system?," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 397-407, 05.
    21. Catherine M. Daily & Dan R. Dalton, 1997. "Separate, But Not Independent: Board Leadership Structure in Large Corporations," Corporate Governance: An International Review, Wiley Blackwell, vol. 5(3), pages 126-136, 07.
    22. Steven M. Mintz, 2005. "Corporate Governance in an International Context: legal systems, financing patterns and cultural variables," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(5), pages 582-597, 09.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:eme:majpps:v:23:y:2008:i:6:p:532-544. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Louise Lister)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.