A typology for exploring the quality of explanations for non-compliance with UK corporate governance regulations

Philip J. Shrives and Niamh Brennan ()

The British Accounting Review, 2015, vol. 47, issue 1, 85-99

Abstract: Companies not complying with the UK Corporate Governance Code are required to provide explanations for non-compliance. This is the capstone of the ‘comply-or-explain’ system. There are no regulations about the content of those explanations, leaving shareholders and others to judge their appropriateness. The study develops a typology to assess the quality of corporate governance explanations for non-compliance of UK FTSE 350 companies based on seven quality characteristics. Code breaches generating the non-compliance explanations for analysis are identified for two accounting periods (2004/5 and 2011/12) relating to the 2003 and 2010 Codes (data for 2011/12 in brackets).

Keywords: Corporate governance; Comply-or-explain; Non-compliance; Explanation; Quality of explanations; Typology (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:47:y:2015:i:1:p:85-99

DOI: 10.1016/j.bar.2014.08.002

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