Drobetz, Wolfgang; Gugler, Klaus; Hirschvogl, Simone - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 2004
This paper analyzes the determinants of the German corporate governance ratingrecently developed by Drobetz … firmlevelcorporate governance as measured by the rating. Firms with larger boards ofdirectors have lower governance ratings, but firms … results question the comply-or-explain principle embedded inrecent corporate governance codes and call for a more rules …