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USAID Macedonia - Corporate Governance and Company Law

The three year USAID Macedonia Corporate Governance and Company Law Project began in February 2003. This technical assistance project was designed to improve Macedonia’s commercial law environment.

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Home Publications The Importance of Disclosure in Corporate Governance Self-regulation Across Europe
The Importance of Disclosure in Corporate Governance Self-regulation Across Europe

Maassen, G.F., Bosch, F.A.J. van den, and Volberda, H. (2004). The Importance of Disclosure in Corporate Governance Self-regulation Across Europe: A Review of the Winter Report and the EU Action Plan. International Journal of Disclosure and Governance, 1(2): 146-159.

 

The article is available here:  icon Journal Of Disclosure And Governance (195.33 kB)

Although self-regulation has proven to be effective for the development of voluntary corporate-governance codes,
the results of this study indicate that leading European companies are not yet too concerned about compliance with these codes.

While self-regulation appears to be ineffective to change the disclosure practices of companies, the study concludes that factors relevant for choosing regulatory forms and the impact and risks involved with non-compliance of companies with voluntary codes have determined the Winter Report’s emphasis on selfregulation.

 
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