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Can Corporate Governance be Rated? Ideas based on the Greek experience
Author(s) -
Tsipouri Lena,
Xanthakis Manolis
Publication year - 2004
Publication title -
corporate governance: an international review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.866
H-Index - 85
eISSN - 1467-8683
pISSN - 0964-8410
DOI - 10.1111/j.1467-8683.2004.00340.x
Subject(s) - remuneration , corporate governance , compliance (psychology) , accounting , corporate social responsibility , work (physics) , business , best practice , public relations , economics , political science , psychology , management , finance , mechanical engineering , social psychology , engineering
The paper presents an attempt to quantify the compliance of Greek companies with international best practices. Based on 37 indicators (composed out of 54 questions) it was found that Greek companies demonstrate a fairly satisfactory degree of compliance with OECD guidelines. Their weak points lie in: the role of stakeholders and corporate social responsibility; the organisation of CG; the effective role of the independent members of the board (which may be attributed to the small size of the pool of potential independent board members); disclosure of remuneration; and risk management. Methodologically, the merit of the exercise lies in its approach towards the creation of “collectively subjective” weightings, an effort to discuss the benefits of separating the rating of the market from the rating of companies and the discussion on typologies of work that can be effectively performed through rating exercises.