Europeanization and the soft law process of EU corporate governance: how has the 2003 action plan impacted on national corporate governance codes?

Ferrero Ferrero, I. and Ackrill, R. ORCID: 0000-0002-0739-1812, 2016. Europeanization and the soft law process of EU corporate governance: how has the 2003 action plan impacted on national corporate governance codes? JCMS: Journal of Common Market Studies, 54 (4), pp. 878-895. ISSN 0021-9886

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Abstract

This study explores Europeanization, the interrelationship between domestic and EU-level policy activity. Specifically, it asks how domestic policy is affected by EU-level (soft-law) policy processes. This contrasts with the hard-law focus of most Europeanization research. Our empirical analysis seeks to determine the extent to which the European Commission's 2003 plan to enhance corporate governance delivered on its aim of 'co-ordinating corporate governance efforts of member states'. This study thus differs from most others on convergence in corporate governance regimes, which look for evidence of convergence perse, rather than convergence towards a specified set of principles. Applying content analysis and econometric tests to 95 corporate governance codes issued between 1992 and mid-2010, we find that the Action Plan has influenced member states' corporate governance policies. However, the degree of national policy alignment to the Action Plan's priorities depends on when the corporate governance code was issued, here, and by whom.

Item Type: Journal article
Description: .
Publication Title: JCMS: Journal of Common Market Studies
Creators: Ferrero Ferrero, I. and Ackrill, R.
Publisher: John Wiley
Date: July 2016
Volume: 54
Number: 4
ISSN: 0021-9886
Identifiers:
NumberType
10.1111/jcms.12344DOI
Rights: © 2016 The Author(s) JCMS: Journal of Common Market Studies © 2016 John Wiley & Sons Ltd.
Divisions: Schools > Nottingham Business School
Depositing User: Jill Tomkinson
Date Added: 02 Feb 2016 10:06
Last Modified: 05 Oct 2017 12:45
URI: http://irep.ntu.ac.uk/id/eprint/26862

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