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Corporate Governance in the Netherlands: an overview of the application of the Tabaksblat Code in 2004
Author(s) -
Akkermans Dirk,
Van Ees Hans,
Hermes Niels,
Hooghiemstra Reggy,
Van der Laan Gerwin,
Postma Theo,
Van Witteloostuijn Arjen
Publication year - 2007
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.1467-8683.2007.00634.x
Subject(s) - remuneration , compliance (psychology) , accounting , corporate governance , code (set theory) , business , independence (probability theory) , code of practice , supervisory board , best practice , control (management) , public relations , law , psychology , political science , management , engineering , computer science , finance , social psychology , economics , engineering ethics , mathematics , statistics , set (abstract data type) , programming language
This article examines the overall acceptance of the best practice provisions contained in the Dutch corporate governance code and identifies those that receive comparably less agreement among 150 Dutch listed companies in 2004. The findings indicate a high level of compliance with the Code. Moreover, the extent of compliance is positively associated with company size. Provisions related to the remuneration of board members, independence of supervisory board members, and requirements with respect to internal control systems stand out when it comes to non‐compliance. In addition, the nature and content of the explanations provided for non‐compliance are remarkably similar across companies, which may indicate symbolic compliance with the Code's best practice provisions.