The Impracticality of an International One Size Fits All Corporate Governance Code of Best Practice

Marlene Davies

    Research output: Contribution to journalArticlepeer-review

    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.
    Original languageEnglish
    Pages (from-to)532 - 544
    Number of pages12
    JournalManagerial Auditing Journal
    Volume23
    Issue number6
    DOIs
    Publication statusPublished - 1 Jan 2008

    Keywords

    • corporate governance
    • best practice
    • world economy
    • globalization
    • national cultures

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