Abstract
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.
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.
Original language | English |
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Pages (from-to) | 532 - 544 |
Number of pages | 12 |
Journal | Managerial Auditing Journal |
Volume | 23 |
Issue number | 6 |
DOIs | |
Publication status | Published - 1 Jan 2008 |
Keywords
- corporate governance
- best practice
- world economy
- globalization
- national cultures