kaal:claim:2922176-017

Code guidance assigning the board responsibility for long-term value creation, as in the 2016 Dutch Corporate Governance Code, is difficult to implement because neither long-term value nor the intended beneficiary of that value is defined.

Source quote, verbatim

Implementation of such code guidance is rather difficult in practice as definitions of long-term value, and the beneficiary of the value creation, are unclear.

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, p. 21
https://ssrn.com/abstract=2922176 · source PDF

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

Holds when

Dutch Corporate Governance Code, December 2016

Classification

failuresupport: arguedfailure: undefined long-term valuefamily: definitional-ambiguitycorporate-governance

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