IDEAS home Printed from https://ideas.repec.org/a/ami/journl/v20y2021i3p516-536.html
   My bibliography  Save this article

The Compliance Evolution of The Corporate Governance Codes in Emerging European Countries – A Content Analysis Perspective

Author

Listed:
  • Pompei Mititean

    (Bucharest University of Economic Studies, Romania)

Abstract

Research Question - Does the corporate governance codes from 18 Emerging European countries respect the European Commission recommendations? Motivation - The corporate governance is a wildly debated topic in the literature but only few studies are addressed to the level of compliance between the corporate governance and the European Commission recommendations, especially in emerging countries. Idea - The objective of this study is to analyse the corporate governance codes form eighteen Emerging European Countries and examine if these countries comply with the recommendations of European Commission regarding corporate governance by using the content analysis technique. The main research proposition is to identify how many out of the 32 recommendations included in this analysis are fulfilled by the corporate governance codes from the Emerging European Countries and how these developed during time. Data - Data sample consists of 18 corporate governance codes from Emerging European Countries, which are examined in the context of the recommendations of European Commission COM-284, and the next years updates from 2004 (2004/913/EC), 2005 (2005/162/EC) and 2009 (2009/384 and 385/EC), divided into five group, covering 32 recommendations. Tools - The latest versions of corporate governance codes from each country, from 2004-2020, were downloaded, collecting the data manually from each corporate governance code using the content analysis technique. Findings - The results illustrate that Slovenia and Czech Republic are the countries with the highest compliance degree, while Poland and Estonia are the countries with the least fulfilled recommendations Contribution - This paper provides a general overview regarding the level of compliance of the corporate governance codes and European Commission recommendations, thus being a starting point for researchers who will further study this subject. Secondly, we have contribute to the limited studies that analysed the evolution of corporate governance codes following the best practices for the companies issued by European Commission.

Suggested Citation

  • Pompei Mititean, 2021. "The Compliance Evolution of The Corporate Governance Codes in Emerging European Countries – A Content Analysis Perspective," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 20(3), pages 516-536, September.
    • Handle: RePEc:ami:journl:v:20:y:2021:i:3:p:516-536
    as

    Download full text from publisher

    File URL: http://online-cig.ase.ro/RePEc/ami/articles/20_3_7.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:elg:eebook:14347 is not listed on IDEAS
    2. Niels Hermes & Theo J.B.M. Postma & Orestis Zivkov, 2007. "Corporate governance codes and their contents - An analysis of Eastern European codes," Journal of East European Management Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 12(1), pages 53-74.
    3. Chowdhury Saima Ferdous & Chris Mallin & Kean Ow-Yong, 2014. "Corporate Governance in Bangladesh: A Comparison with Other Emerging Market Countries," CSR, Sustainability, Ethics & Governance, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Corporate Governance in Emerging Markets, edition 127, pages 395-420, Springer.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elisa Baraibar-Diez & María D Odriozola & José Luis Fernández Sánchez, 2016. "Transparency through European corporate governance codes," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 13(3), pages 244-261, August.
    2. Rafael Robina-Ramírez & M. Isabel Sánchez-Hernández & Carlos Díaz-Caro, 2021. "Hotel manager perceptions about corporate compliance in the tourism industry: an empirical regional case study in Spain," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 25(2), pages 627-654, June.
    3. Ilya Okhmatovskiy, 2017. "Self-regulation of corporate governance in Russian firms: translating the national standard into internal policies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(2), pages 499-532, June.
    4. Emilia Tomczyk & Maria Aluchna, 2015. "Shareholder structure and compliance with the board best practice: econometric analysis," Applied Econometrics Papers, Department of Applied Econometrics, Warsaw School of Economics, vol. 2(1), pages 51-75.
    5. Ilya Okhmatovskiy & Robert J. David, 2012. "Setting Your Own Standards: Internal Corporate Governance Codes as a Response to Institutional Pressure," Organization Science, INFORMS, vol. 23(1), pages 155-176, February.
    6. Maria Aluchna & Tomasz Kuszewski, 2020. "Does Corporate Governance Compliance Increase Company Value? Evidence from the Best Practice of the Board," JRFM, MDPI, vol. 13(10), pages 1-21, October.
    7. Muhammad Haris & Hongxing Yao & Gulzara Tariq & Hafiz Mustansar Javaid & Qurat Ul Ain, 2019. "Corporate Governance, Political Connections, and Bank Performance," IJFS, MDPI, vol. 7(4), pages 1-37, October.
    8. Taslima Jannat & Syed Shah Alam & Yi-Hui Ho & Nor Asiah Omar & Chieh-Yu Lin, 2022. "Can Corporate Ethics Programs Reduce Unethical Behavior? Threat Appraisal or Coping Appraisal," Journal of Business Ethics, Springer, vol. 176(1), pages 37-53, February.
    9. Giulio Greco & Silvia Ferramosca & Luciano Marchi, 2015. "Governance codes and types of issuer: a global study," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 10(1), pages 28-56.
    10. Chowdhury Saima Ferdous, 2018. "Corporate Governance in Bangladesh: Evidence of Compliance," International Business Research, Canadian Center of Science and Education, vol. 11(3), pages 88-109, March.
    11. Maria Aluchna & Tomasz Kuszewski, 2022. "Responses to corporate governance code: evidence from a longitudinal study," Review of Managerial Science, Springer, vol. 16(6), pages 1945-1978, August.
    12. Maisuradze Davit & Narmania Giorgi & Lazishvili Magda & Tkeshelashvili Mariam & Shakiashvili Irakli, 2020. "Is Corporate Social Responsibility (CSR) a New Alternative to Governance Challenges of State-Owned Enterprises (SOEs)?," Central European Journal of Public Policy, Sciendo, vol. 14(2), pages 28-46, December.
    13. Zsolt Bedo & Eva Ozsvald, 2008. "Codes of Good Governance in Hungary," CERS-IE WORKING PAPERS 0818, Institute of Economics, Centre for Economic and Regional Studies.
    14. Hussain Haroon & Md-Rus Rohani & Al-Jaifi Hamdan Amer & Hussain Rana Yassir, 2022. "Determinants of Corporate Pay-Out Policy and the Moderating Effects of Firm's Growth: Evidence from Pakistan," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(3), pages 65-101, September.

    More about this item

    Keywords

    corporate governance; corporate governance codes; Emerging European Countries;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ami:journl:v:20:y:2021:i:3:p:516-536. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cristina Tartavulea (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.