NEW ORIENTATIONS FOR A EUROPEAN FRAMEWORK OF CORPORATE GOVERNANCE

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Abstract

The comparative study of Corporate Governance Codes relevant to the European Union and its Member-States[1], finalised in March 2002, establishes that differences remain at a national scale on corporate governances issues. Beyond the identities of national firms in European Union lies the question: is there a European corporate governance identity? At the present time, European legislation does not cover certain essential aspects of the firm: that is where the shoe pinches! What a company is and what its aims are remain a national question; in the same time transparency requirements are established on a global dimension at least for quoted companies and some new projects of Directives and Recommendations dealing with corporate governance issues attempt to create common rules or principles. This article tries to synthesise the European action in this field and to a certain extend to criticise it not to have a more ambitious project.

Keywords: corporate governance, EU, board committees

How to cite this paper: de Beaufort, V. (2005). New orientations for a European framework of corporate governance. Corporate Board: role, duties and composition, 1(3), 7-12. https://doi.org/10.22495/cbv1i3art1