# kaal:claim:2922176-009

**Claim.** Top-down corporate governance reform measures rarely, if ever, produce genuine change in the governance or culture of firms, and are commonly met with indifference, skepticism, or hostility from management.

**Type.** failure  **Support.** argued

**Holds when.**

- listed companies and their governance experts

**Source quote.**

> In practice, top- down corporate governance reform measures rarely, if ever, result in a genuine change in the governance and culture of firms.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, *The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies* (2017), IV. Limits of Corporate Governance Reform, page 18

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176

**Verify.** sha256 of source PDF `fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202017%20-%20The%20%E2%80%98Unmediated%E2%80%99%20and%20%E2%80%98Tech-Driven%E2%80%99%20Corporate%20Governance%20of%20Today%27s%20Winning%20Companies.pdf

**Failure mode.** top-down reform inertia  (family: oracle-and-input-corruption)

**Topics.** governance-design, corporate-governance, compliance

**Keywords.** corporate-governance-reform, compliance-fatigue, top-down-regulation, corporate-culture

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2486570-036

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.