Internal Corporate Governance in Europe - Towards a More Market-Based Approach
Kyoto Journal of Law and Politics, Vol. 4, No. 1, pp. 17-36, 2007
20 Pages Posted: 17 Apr 2008
Date Written: 2007
In a trialogue between Japan, the U.S. and the EU, the corporate governance debate has singled out approaches that strengthen internal controls. With the soft law movement at its core the development points towards more options for the market. The gathering and processing of information by and within boards is the key to the implementation of modern market-based concepts as particularly the compliance with fostered independence requirements for directors. The further development of the more market-based approach should lead to board model choices, strengthen the role of soft law and introduce optional rules including contractual liability gaps for auditors.
Keywords: Comparative Corporate Governance, Company/Corporate Law, Soft-Law, Corporate Governance Code, Europe, Germany, Board Model , Supervisory Information, Independence, Financial Intermediaries, Co-determination, Takeover, Golden Shares
JEL Classification: G3, K22
Suggested Citation: Suggested Citation