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

See all articles by Axel V. Werder

Axel V. Werder

Technical University of Berlin, Department of Organization and General Management

Till Talaulicar

University of Erfurt

Georg L. Kolat

Technical University of Berlin

Abstract

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

Werder, Axel v. and Talaulicar, Till and Kolat, Georg L., The German Corporate Governance Code: General Acceptance and Neuralgic Norms - a Second Look. International Journal of Public Policy, Vol. 1, 2006, Available at SSRN: https://ssrn.com/abstract=934707

Axel v. Werder (Contact Author)

Technical University of Berlin, Department of Organization and General Management ( email )

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Till Talaulicar

University of Erfurt ( email )

Internationales Buro
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Germany
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49-361-737-4519 (Fax)

Georg L. Kolat

Technical University of Berlin ( email )

Straße des 17
Berlin, 10623
Germany

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