The importance of disclosure in corporate governance self-regulation across Europe: A review of the Winter Report and the EU Action Plan

The importance of disclosure in corporate governance self-regulation across Europe: A review of the Winter Report and the EU Action PlanMaassen, G.F. (Gregory)Bosch, van den F.A.J. (Frans)Volberda, H.W. (Henk)financebusinesslawself-regulationboard disclosure in Europecorporate-governance codesWinter Reportinternational standards and regulatory formshttp://hdl.handle.net/1765/6455enjournalArticle1741-3591Although 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 self-regulation.International Journal of Disclosure and Governance2004-01-01 1741-3591 urn:NBN:nl:ui:15-1765/6455 1 2 146 159