Eddy Wymeersch

The Corporate Governance ‘Codes of Conduct’ between State and Private Law

WP 2007-07

The relationship between corporate governance codes and the legal order in which they function is a complex one. This paper aims at analysing this relationship on the one hand by describing the factual situation in which the codes have been developed, and on the other the enforcement and monitoring of the codes in the different jurisdictions. It points to the weaknesses in enforcement and calls for developing stronger enforcement instrument without abandoning the self-regulatory nature of the codes.