Corporate Governance Codes: A Review and Research Agenda

20 Pages Posted: 25 Apr 2016

See all articles by Francesca Cuomo

Francesca Cuomo

University of East Anglia (UEA) - Norwich Business School

Chris Mallin

Norwich Business School, University of East Anglia; University of Birmingham - Birmingham Business School

Alessandro Zattoni

University of Bocconi - Strategic and Entrepreneurial Management

Date Written: May 2016

Abstract

Manuscript Type. Review.

Research Question/Issue. This study reviews previous country‐level and firm‐level studies on corporate governance codes up to 2014 in order to highlight recent trends and indicate future avenues of research.

Research Findings/Results. Our data show that research on codes increases over time consistently with the diffusion and the relevance of the empirical phenomenon. Despite previous studies substantially enriching our knowledge of the antecedents and consequences of governance codes, our study shows there are still several opportunities to make significant contributions in this area.

Theoretical Implications. Agency theory is the dominant theoretical framework, although other theoretical perspectives (especially the institutional one) are increasingly adopted. Future studies should be aimed at widening and combining various theoretical lenses so as to develop new interpretations and a better understanding of governance codes.

Practical Implications. Legislators and policymakers should continue to develop and update the recommendations of national governance codes in order to address the potential failures of corporate governance mechanisms in place.

Keywords: Corporate Governance, Good Governance Codes, Corporate Governance Guidelines

Suggested Citation

Cuomo, Francesca and Mallin, Christine and Zattoni, Alessandro, Corporate Governance Codes: A Review and Research Agenda (May 2016). Corporate Governance: An International Review, Vol. 24, Issue 3, pp. 222-241, 2016. Available at SSRN: https://ssrn.com/abstract=2769047 or http://dx.doi.org/10.1111/corg.12148

Francesca Cuomo (Contact Author)

University of East Anglia (UEA) - Norwich Business School ( email )

Norwich
NR4 7TJ
United Kingdom

Christine Mallin

Norwich Business School, University of East Anglia ( email )

Norwich Research Park
Norwich, NR4 7TJ
United Kingdom

University of Birmingham - Birmingham Business School ( email )

Edgbaston Park Road
Birmingham, B15 2TY
United Kingdom

Alessandro Zattoni

University of Bocconi - Strategic and Entrepreneurial Management ( email )

Via Bocconi 8
Milan, Milan 20136
Italy

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