Cross-Country Analysis of Corporate Governance Codes in the European Union

Kubíček, Aleš; Štamfestová, Petra; Strouhal, Jiří

doi:10.14254/2071-789x.2016/9-2/22

Cited by 9 publications

(6 citation statements)

References 31 publications

(32 reference statements)

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“…As a result, we addressed calls for further research as Aquilera, and Cuervo-Cazurra (2009) proposed, and Cuomo et al (2016) reinforced the importance of the role of the transnational and international institutions in the creation and diffusion of codes deserving of much-needed attention. Although these codes can significantly affect the content and approach of national codes, studies investigating codes at international level are limited in numbers, mostly focusing on the European Union and the impact of its corporate governance policies on the member states (Cicon et al, 2012Hermes et al, 2006, Kubíček et al, 2016.…”

Section: Resultsmentioning

confidence: 99%

Governance codes in the developing and emerging countries: Do they look for the international role model?

Bosáková¹,

Kubíček²,

Strouhal³

2019

Economics &Amp; Sociology

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Over the last decade, a growing number of developing and emerging countries have begun addressing corporate governance practice and issued a national governance code. This paper analyses and compares the code contents and approaches of the 11 developing and emerging countries after the latest revision of the OECD Principles of Corporate Governance to examine whether these countries follow the international best practice despite the national specifics differ from those of developed countries. Individual codes are subjected to content analysis to evaluate the level of compliance with the OECD Principles. This paper goes beyond the well-known particulars of developed markets and provides a rare insight into the development of corporate governance frameworks in the developing and emerging countries in a crosscountry manner. We contribute to recognition and assessment of good corporate governance in developing and emerging countries and examine what impact the OECD Principles have had beyond its membership base of high-developed countries.

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Section: Resultsmentioning

confidence: 99%

Governance codes in the developing and emerging countries: Do they look for the international role model?

Bosáková¹,

Kubíček²,

Strouhal³

2019

Economics &Amp; Sociology

Self Cite

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“…These progressive developments (McGee, 2006) have created an unprecedented situation where an external governance process transfers multiple regulations to candidate states (Schimmelfennig and Sedelmeier, 2004). In recent years, regulatory developments have been diverse (Kubíček et al, 2016) including the Societates Europaeae (Raaijmakers, 2015) and the non‐financial disclosure Directive 2014/95/EU (Kinderman, 2020), revised national corporate governance codes and proposed enhancements to the gender diversity of boards (European Commission, 2012; Arnaboldi et al, 2020).…”

Section: Context and Theoretical Foundationsmentioning

confidence: 99%

Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

Onal

Ashton

2021

J of Common Market Studies

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This article examines how accession to and subsequent membership of the EU has influenced the dissemination of corporate governance characteristics and the financial performance of the banking industry. Using a hand-collected, cross-national dataset from EU member and candidate states the analysis indicates the candidacy period is associated with the better financial performance of banks than the latter period of EU membership. EU membership also has a significant negative influence on adopting some corporate governance arrangements. We infer this result is consistent with instrumental rationality explanations of Europeanization. While the process of accession has brought benefits, these are not always reinforced by subsequent EU membership.

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“…This approach is today known as the legal-financial approach or the 'Law and Finance' approach. Corporate governance in the European Union is very heterogeneous, and the system is extremely varied from one country to another: a civil law model, a common law model, and a hybrid model (Kubíček et al 2016). The EU was built around two different legal systems.…”

Section: H4: Ownership Concentration Is Negatively Related To Tax Avomentioning

confidence: 99%

A Comparison of Corporate Governance and Tax Avoidance of UK and Japanese Firms

Salhi

Jabr

Jarboui

2020

CER

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The present study was designed to determine the relationship between corporate governance and tax avoidance in an international setting. Financial and governance data sourced from the Datastream database for a sample of Japanese and UK firms between 2012 and 2017 are used. First, we examine the direct effect of several corporate governance mechanisms on tax avoidance. Second, we divide the full sample into two groups (common law and code law legal system) to explore the relationship between law, corporate governance, and tax avoidance. We use both univariate and feasible generalized least square (FGLS) regression methods to examine our hypotheses. This study finds that the board size, independent directors, and the presence of women on boards of directors reduce the likelihood of tax avoidance. However, we find an insignificant association between ownership concentration and tax avoidance. Second, it also finds that firms in countries with higher country-level governance engage in less tax avoidance. The results also suggest that the role of corporate governance is more pronounced for firms operating in common law countries than those in code law countries. This manuscript is one of the few studies that examine the relationship between corporate governance and tax avoidance in an international setting with different legal and institutional environment. This relationship differs across the two countries. This paper clearly identifies implications for research, practice, and society. It documents that when a country implements a good system of governance, which targets improving transparency and accountability, it will lead to less corporate tax avoidance.

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Cross-Country Analysis of Corporate Governance Codes in the European Union

Cited by 9 publications

References 31 publications

Governance codes in the developing and emerging countries: Do they look for the international role model?

Governance codes in the developing and emerging countries: Do they look for the international role model?

Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

A Comparison of Corporate Governance and Tax Avoidance of UK and Japanese Firms

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