Governance and the Role of Government
An interview with Sridhar Arcot, Professor of Finance, ESSEC Business School
In his research, Sridhar Arcot has taken a particular interest in the “comply or explain” sytem. This regulatory approach first used in the United Kingdom, whereby a governance code is set. Listed companies must either comply with this set code, or if they do not comply, explain publicly why they do not. This system has been today copied throughout the world – but does it work? Like any system, there are both advantages and disadvantage to “comply or explain”. Professor Arcot explains some of these.
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