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Advances in Corporate GovernanceComparative Perspectives$
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Helmut K. Anheier and Theodor Baums

Print publication date: 2020

Print ISBN-13: 9780198866367

Published to Oxford Scholarship Online: November 2020

DOI: 10.1093/oso/9780198866367.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 January 2022

Listed Companies

Listed Companies

Regulatory Tools and Current Reform Issues

(p.43) 3 Listed Companies
Advances in Corporate Governance

Theodor Baums

Oxford University Press

Although corporate governance codes have spread across the European Union and beyond, and are regularly revised and adapted to changing national and international expectations of investors and other stakeholders, some important questions have not yet been unanimously answered. Two of these ongoing debates are addressed in this chapter. First, where should the line be drawn between statutory provisions and corporate governance codes as an instrument of self-regulation? Second, what is the rationale behind the idea of independent directors? In particular, how should independence be understood in relation to board members: independent of the incumbent management and company or independent of a controlling shareholder? The chapter discusses both questions using the example of the German Corporate Governance Code.

Keywords:   corporate governance codes, self-regulation, corporate law, board of directors, independent directors, German Corporate Governance Code

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