The German Corporate Governance Code: General Acceptance and Neuralgic Norms - a Second Look
International Journal of Public Policy, Vol. 1, 2006
Posted: 4 Oct 2006
Based on a survey of all companies listed at the Frankfurt Stock Exchange, this paper analyzes the extent of compliance with the German Corporate Governance Code. The investigation includes the recommendations as well as the suggestions of the Code. Overall, findings indicate a high level of Code conformity. Furthermore, the Code continues to contribute to changes of the governance modalities of German firms. Nonetheless, Code standards remain which gain comparably less acceptance. We identify those norms which are still rejected by the majority of the surveyed corporations and discuss why these compliance rates are currently low and whether they can be expected to increase in the future.
Keywords: Code, Compliance, Corporate Governance, German Corporate Governance Code, Statement of conformity
JEL Classification: G30, G34, G38, M1, M19
Suggested Citation: Suggested Citation