Institutionalizing Codes of Governance

Enrione, Alfredo; Mazza, Carmelo; Zerboni, Fernando

doi:10.2139/ssrn.2583578

Cited by 17 publications

(33 citation statements)

References 23 publications

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“…Aguilera & Cuervo-Cazurra (2004) found in a sample of 24 Countries (all of them included in our sample) that half of issuers of the first codes were either government or stock exchanges. The key role of these type of issuer does not seem to be changed across three decades (Enrione, Mazza & Zerboni, 2006). Contrary to Aguilera & Cuervo-Cazurra's findings, we didn't find codes issued by managers' association or investors groups.…”

Section: Descriptive Statisticscontrasting

confidence: 99%

“…Regardless of the technical and efficiency reasons behind a code adoption, the "nature of the issuer denotes the type of existing institutional pressure to embrace new practices" (Aguilera & Cuervo-Cazurra, 2004:421;Enrione, Mazza & Zerboni, 2006). The codes content can vary according to the nature of the institutional isomorphic pressure, exerted by the type of issuer.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…National governments (or their agencies) and stock exchanges issuing governance codes are expected to carry coercive institutional pressure (Enrione, Mazza & Zerboni, 2006). Also, investors are one of the most important source of demand for institutionalized and legitimated rules and for compliance with governance codes.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…The type of the issuer denotes a specific category of institutional isomorphic pressure to embrace new governance practices (Aguilera & Cuervo-Cazurra, 2004;Enrione, Mazza & Zerboni, 2006). In our paper, we hypothesize that the nature of the isomorphic pressure, exerted by the type of issuer, influences the code contents.…”

Section: Introductionmentioning

confidence: 98%

“…The paper of Aguilera & Cuervo-Cazurra (2004) investigated the determinants of the diffusion of governance codes across 49 Countries. The work of Enrione, Mazza and Zerboni (2006) studied the process of institutionalization of governance codes and the role of different actors involved in issuing the codes. The paper of Zattoni & Cuomo (2009) explored the efficiency and legitimacy motivations behind the codes adoption in Countries with different legal systems.…”

Section: Introductionmentioning

confidence: 99%

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Governance Codes and Types of Issuer - An Empirical Research on a Global Sample

Greco

2012

SSRN Journal

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We study the relationship between the types of issuer and the governance codes contents in the neo-institutional social theory perspective, using a global sample of over 70 national governance codes. We hypothesize that the code recommendations are influenced by the nature of isomorphic pressure to embrace new social practices, exerted by the different types of issuer. The findings show that codes issued involving multiple stakeholders' groups and organizations into hybrid committees are more likely to: (1) include recommendations that take into account multiple political and social institutional demands; (2) adapt the mainstream agency-theory-based governance model to the national setting features. Overall, the policy-making negotiations among different stakeholders' groups in the local institutional setting appear to be determinant in shaping the code recommendations and in improving the promotion of good governance practices among firms. To the best of the authors' knowledge, this study is the first to systematically investigate the relationship between the types of issuer and the codes contents.

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Section: Descriptive Statisticscontrasting

confidence: 99%

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 98%

Section: Introductionmentioning

confidence: 99%

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Governance Codes and Types of Issuer - An Empirical Research on a Global Sample

Greco

2012

SSRN Journal

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Applying the ‘comply-or-explain’ principle: discursive legitimacy tactics with regard to codes of corporate governance

2012

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The comply-or-explain principle is a central element of most codes of corporate governance. Originally put forward by the Cadbury Committee in the UK as a practical means of establishing a code of corporate governance whilst avoiding an inflexible "one size fits all" approach, it has since been incorporated into code regimes around the world. Companies can either comply with code provisions or may explain why they do not comply, i.e., why they deviate from a code provision. Despite its wide application very little is known about the ways in which comply-or-explain is used. In addressing this we employ legitimacy theory by which explanations for deviating can be understood as means of legitimizing the company's actions. We analyzed the compliance statements and reports of 257 listed companies in the UK and Germany, producing some 715 records of deviation. From this we generated an empirically derived taxonomy of the explanations. In a second order analysis we examine the underlying logic and identify various legitimacy tactics. We discuss the consequences of these legitimacy tactics for code regimes and the implications for policy makers.

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An Examination and Analysis of Bank Corporate Governance Regulation in The Gambia: A Grounded Theory Approach

Faye

2016

Corporate Governance in Africa

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I am particularly grateful to my Director of Studies, Professor Kerry E. Howell, for his encouragement, support, invaluable insights and guidance throughout this research. Without his advice, support, critical feedback and understanding, this journey would have been impossible. Indeed, thanks also to Martin Pearce for his trenchant observations and knowledgeable support. I am grateful for the contributory comments and constructive suggestions from my colleagues at Kaplan Holborn College. I would like to state my appreciation to my colleagues:-Chad Manian, Mark Ryder, Alex Smith, Cheryl Osborne-Gibbons, Ian Ervine and Shaun Bisheswar for all the IT support and proof reading. I would also like to thank all the commercial banks, the Central Bank of The Gambia and other stakeholders, for participating in and providing useful information for this research. I am particularly grateful for the tremendous support I received from Chillel D. Njie-Sanyang and Saffie Secka. I would like to thank Dr Paul Jones, Dr Kenny Crossan and Professor Phil Megicks for their participation and challenging questioning during my viva (oral examination) and for providing me with valuable and constructive feedback. I also owe a debt of gratitude to my friends and relations for their inspiration and support through the various stages of this research. At this stage I would like to thank my best friend the late Ebrima Drameh (RIP), The late Mrs Cecelia Cole formerly of Marina

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Institutionalizing Codes of Governance

Cited by 17 publications

References 23 publications

Governance Codes and Types of Issuer - An Empirical Research on a Global Sample

Governance Codes and Types of Issuer - An Empirical Research on a Global Sample

Applying the ‘comply-or-explain’ principle: discursive legitimacy tactics with regard to codes of corporate governance

An Examination and Analysis of Bank Corporate Governance Regulation in The Gambia: A Grounded Theory Approach

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