Corporate governance codes have recently been adopted by most of the European markets. Stock markets in Eastern Central Europe, with their weak governance mechanisms and practices, are trying to follow suit. However, drafting such codes may be a much more challenging task in this part of Europe than elsewhere, due to the existence of powerful interest groups and an underdeveloped corporate environment (immature institutional investors, ineffective shareholder activism and a lack of government interest in corporate governance). This paper provides some insights into various governance problems related to the drafting of a ‘private’ corporate governance code for Polish listed corporations.
Maciej Dzierżanowski, Piotr Tamowicz
European Business Organization Law Review 4: 273-299, 2003
SETTING STANDARDS OF CORPORATE GOVERNANCE: THE POLISH EXPERIENCE OF DRAFTING GOVERNANCE CODES