EU Member States’ Experience with the ‘Comply or Explain’ Principle in Corporate Governance

• Main Authors: Hana Horak, Nada Bodiroga-Vukobrat
• Format: Article
• Language: English
• Published: University of Zagreb, Faculty of Law 2011-12-01
• Series: Croatian Yearbook of European Law and Policy
• Subjects: eu internal market; company law; corporate governance; capital market law
• Online Access: https://www.cyelp.com/index.php/cyelp/article/view/119

The smooth functioning of the EU internal market entails not only regulatory harmonisation, but also a set of rules which, regardless of the national laws of Member States, uniformly regulates company law and corporate governance at the supranational level. Availability, transparency and disclosure of information in listed companies are of the utmost importance for company law and corporate governance, including capital market law. In company law and corporate governance, they are used as an instrument for the protection of shareholders and to control the activities of management and supervisory boards, while in capital market law their purpose is to ensure reliable and accurate information for the whole capital market.