Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-363-750"
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"en.20120329.36.4-363-750"2
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"The Commission has recently reiterated its commitment to building a strong and successful single market that will focus on citizens and regain their trust. The key elements in these efforts are corporate governance and corporate social responsibility. Corporate governance is traditionally defined as the system by which companies are managed and controlled, and as a set of relationships between the management of a company, its board of directors, the shareholders, and other stakeholders. According to the available study, the overall quality of corporate statements relating to governance when the recommended corporate governance code is deviated from is unsatisfactory. The study showed that, in more than 60% of cases, when companies decide not to follow a recommendation, they do not provide an adequate explanation. The companies simply stated, without any explanation, that they had deviated from the recommendations, or they provided only a general or limited explanation. In many Member States, however, a slow but gradual improvement may be seen in this area. More could be achieved by introducing more detailed requirements for the information to be published by companies that deviate from the recommendations. The requirements should be clear and precise, because many of the current problems arise from misunderstandings of the nature of the required explanations."@en1
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