CEOs Remuneration in Corporate Governance Codes in EU Member Countries
DOI:
https://doi.org/10.2478/v10103-009-0004-9Abstrakt
Over the past two decades corporate governance has become one of the key issues in business and academic debates. The appropriate standards of corporate governance constitute important components of successful market economies. At the same time it is widely emphasized that contemporary mechanisms by which enterprises are directed and controlled are seriously defective. There is a need for profound reforms in corporate governance mechanisms. The growing interest in corporate governance codes among OECD countries is a very important component of these reforms.
The purpose of the paper is to compare regulations in corporate governance codes in 27 EU countries concerning remuneration of top executives. It enables identifying two main mechanisms which are implemented in CG codes – market mechanism based on high level of remuneration transparency and hierarchical mechanism based on setting rules according to which corporate boards establish a formal procedure for fixing the remuneration packages of executives. The paper presents the discussion on determinants of these two mechanisms.
Pobrania
Bibliografia
Austria, Austrian Code of Corporate Governance, June 2007,
Google Scholar
Belgium, The Belgian Code on Corporate Governance, 9 December 2004,
Google Scholar
Bulgaria, Bulgarian National Code for Corporate Governance, October 2007,
Google Scholar
Cyprus, Corporate Governance Code, 2006,
Google Scholar
Czech Republic, Corporate Governance Code based on the OECD Principles, 2004,
Google Scholar
Denmark, Committee on Corporate Governance’s Recommendations for corporate governance, section VI revised by February 6, 2008,
Google Scholar
Estonia, Corporate Governance Recommendations, 2006,
Google Scholar
Finland, Corporate Governance Recommendations for Listed Companies, 2003,
Google Scholar
France, The Corporate Governance of Listed Corporations, October 2003,
Google Scholar
Germany, German Corporate Governance Code, 14 June 2007,
Google Scholar
Great Britain, The Combined Code on Corporate Governance, June 2006,
Google Scholar
Greece, Federation of Greek Industries Principles of Corporate Govenance, August 2001,
Google Scholar
Hungary, Corporate Governance Recommendations, 2007,
Google Scholar
Ireland, Irish Association of Investment Managers Corporate Governance, Share Option and other Incentive Scheme Guidelines, March 1999,
Google Scholar
Italy, Corporate Governance Code, March 2006.
Google Scholar
Latvia, Corporate Governance Principles and Recommendations on their Implementation, 2005,
Google Scholar
Lithuania, The Corporate Governance Code for The Companies Listed on the National Stock Exchange of Lithuania, 2004,
Google Scholar
Luxembourg, Corporate Governance. The Ten Principles of Corporate Governance of the Luxembourg Stock Exchange, April 2006,
Google Scholar
Malta, Principles of Good Governance for Public Interest Companies, 3 November 2005,
Google Scholar
The Netherlands, The Dutch corporate governance code. Principles of good governance and best practice provisions, 9 December 2003,
Google Scholar
Poland, Code of Best Practice for WSE Listed Companies,, 4 July 2007,
Google Scholar
Portugal, Corporate Governance Code and Legal Framework Consolidation, 2007,
Google Scholar
Romania, Corporate Governance Initiative for Economic Democracy in Romania, Corporate Governance Code, June 24, 2000.
Google Scholar
Slovakia, Corporate Governance Code. Based on the OECD Principles, September 2002,
Google Scholar
Slovenia, Corporate Governance Code, 5 February 2007,
Google Scholar
Spain, Unified Code on Good Corporate Governance, 18 January 2006,
Google Scholar
Sweden, Swedish Code of Corporate Governance, 2005.
Google Scholar
Pobrania
Opublikowane
Jak cytować
Numer
Dział
Licencja
Utwór dostępny jest na licencji Creative Commons Uznanie autorstwa – Użycie niekomercyjne – Bez utworów zależnych 4.0 Międzynarodowe.
