Corporate Governance in the Netherlands: An Overview of the Application of the Tabaksblat Code in 2004

13 Pages Posted: 13 Dec 2007

See all articles by Dirk Akkermans

Dirk Akkermans

affiliation not provided to SSRN

Hans van Ees

University of Groningen

Niels Hermes

University of Groningen - Faculty of Economics and Business

Reggy Hooghiemstra

University of Groningen - Faculty of Economics and Business

Gerwin Van der Laan

affiliation not provided to SSRN

Theo J.B.M. Postma

University of Groningen - Faculty of Economics and Business

Arjen van Witteloostuijn

University of Groningen - Faculty of Economics and Business

Abstract

This article examines the overall acceptance of the best practice provisions contained in the Dutch corporate governance code and identifies those that receive comparably less agreement among 150 Dutch listed companies in 2004. The findings indicate a high level of compliance with the Code. Moreover, the extent of compliance is positively associated with company size. Provisions related to the remuneration of board members, independence of supervisory board members, and requirements with respect to internal control systems stand out when it comes to non-compliance. In addition, the nature and content of the explanations provided for non-compliance are remarkably similar across companies, which may indicate symbolic compliance with the Code's best practice provisions.

Suggested Citation

Akkermans, Dirk and van Ees, Hans and Hermes, Niels and Hooghiemstra, Reggy and Van der Laan, Gerwin and Postma, Theo J.B.M. and van Witteloostuijn, Arjen, Corporate Governance in the Netherlands: An Overview of the Application of the Tabaksblat Code in 2004. Corporate Governance: An International Review, Vol. 15, Issue 6, pp. 1106-1118, November 2007. Available at SSRN: https://ssrn.com/abstract=1072202 or http://dx.doi.org/10.1111/j.1467-8683.2007.00634.x

Dirk Akkermans (Contact Author)

affiliation not provided to SSRN

No Address Available

Hans Van Ees

University of Groningen ( email )

Department of Economics
P.O.Box 800
9700 AH Groningen
Netherlands

Niels Hermes

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Reggy Hooghiemstra

University of Groningen - Faculty of Economics and Business ( email )

Department of Auditing
P.O. Box 800
9700 AH Groningen
Netherlands
31 50 363 3768 (Phone)
31 50 363 7174 (Fax)

Gerwin Van der Laan

affiliation not provided to SSRN

No Address Available

Theo J.B.M. Postma

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Arjen Van Witteloostuijn

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

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