Convergence in Corporate Governance: Empirical Evidence from Europe 2000-2003

22 Pages Posted: 29 Jun 2004

See all articles by Dariusz Wojcik

Dariusz Wojcik

University of Oxford, St. Peter's College

Date Written: June 2004

Abstract

Using a dataset on corporate governance ratings of 300 largest European companies from 17 countries, I analyse the dynamics of corporate governance between 2000 and 2003 focusing on convergence. Within the structure of corporate governance shareholders' rights and duties and take-over defences have changed little while ratings for board structure and functioning and particularly for disclosure have risen in every country and industry. Continental companies narrow the gap in relation to the UK and Ireland, and there is evidence of convergence within individual countries and industries. Nevertheless, the European corporate governance landscape is still diverse, with differences between countries overwhelming differences between industries.

Keywords: Corporate governance, convergence, rating, Europe

JEL Classification: G15, G34, K00, P51

Suggested Citation

Wojcik, Dariusz, Convergence in Corporate Governance: Empirical Evidence from Europe 2000-2003 (June 2004). Available at SSRN: https://ssrn.com/abstract=559424 or http://dx.doi.org/10.2139/ssrn.559424

Dariusz Wojcik (Contact Author)

University of Oxford, St. Peter's College ( email )

New Inn Hall Street
Oxford, OX1 2DL
United Kingdom

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