The Emergence of ‘Comply or Explain’ as a Global Model for Corporate Governance Codes

Volume: 33, Issue: Issue 1, Pages: 1 - 56
Published: Feb 1, 2022
Abstract
The introduction of the Cadbury Code in the UK in the early 1990s marked an important turning point in the evolution of corporate governance around the world. The ‘comply or explain’ approach pioneered by the Cadbury Code prioritised flexibility and the role of market discipline in its approach. While those characteristics can be linked to earlier trends in the evolution of corporate governance in the UK, it is more difficult to explain why the...
Paper Details
Title
The Emergence of ‘Comply or Explain’ as a Global Model for Corporate Governance Codes
Published Date
Feb 1, 2022
Volume
33
Issue
Issue 1
Pages
1 - 56
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