Corporate Governance Codes for the 21st Century : International Perspectives and Critical Analyses

"The book is the first comprehensive consideration, since the UK Cadbury Report recommended a voluntary Corporate Governance Code, of the question whether Corporate Governance Codes are the most effective way of ensuring adherence to good corporate governance principles. There is no doubt that the idea of voluntary compliance with good corporate governance practices, based on the principle of 'comply or explain', has captured the imagination of the world. It is probably one of the best and most comprehensive examples of 'self-regulation' ever seen in any area where the society could be affected significantly, for current purposes by corporations. However, is this the most effective way of ensuring that corporations act responsibly and adhere to good corporate governance principles? Have these Codes really improved corporate governance practices significantly? Is it time for a rethink and, at least in certain areas, start to rely more on 'hard law' and clearer expectations to ensure compliance? All these issues are addressed in the book"--Back cover Front Matter....Pages i-xxiv Front Matter....Pages 1-1 Corporate Governance Codes Under the Spotlight....Pages 3-20 Front Matter....Pages 21-21 When the Solution Becomes the Problem: The Triple Failure of Corporate Governance Codes....Pages 23-55 No Law?....Pages 57-76 Self-regulation in International Corporate Governance Codes....Pages 77-95 Corporate Governance in India: The Transition from Code to Statute....Pages 97-114 Front Matter....Pages 115-115 An Analytical Study of Board Accountability in Transnational Codes of Corporate Governance....Pages 117-143 Corporate Sustainability Practices and Regulation: Existing Frameworks and Best Practice Proposals....Pages 145-167 From Sustainability to Conflict Minerals: The Creeping Codification of Non-financial Disclosure....Pages 169-188 Hardening Soft Law Initiatives in Business and Human Rights....Pages 189-208 Delisting Rules in the Context of Corporate Governance: Can the Protection of Shareholders Be Effected by a Competition of Listing Rules or Are State-Made Provisions Required?....Pages 209-230 Front Matter....Pages 231-231 Corporate Governance: Soft Law Regulation and Disclosure—The Cases of the United Kingdom and South Africa....Pages 233-260 Disclosure and Auditing of Corporate Social Responsibility Standards: The Impact of Directive 2014/95/EU on the German Companies Act and the German Corporate Governance Code....Pages 261-273 Globalisation of Corporate Governance Depends on Both Soft Law and Hard Law....Pages 275-294 Back Matter....Pages 295-302