Transformations of Self-Regulation and New Public Regulations in Swiss Corporate Governance (1985-2002) (Transformations De L'Autorégulation Et Nouvelles Régulations Publiques En Matière De Gouvernement D'Entreprise En Suisse (1985-2002))

Swiss Political Science Review, Vol. 12, pp. 1-32, 2006

World Political Science Review, Vol. 3, No. 2, 2007

Posted: 30 Nov 2006

See all articles by André Mach

André Mach

University of Lausanne

Gerhard Schnyder

Loughborough University London - Institute for International Management; University of Cambridge - Centre for Business Research

Thomas David

University of Lausanne

Martin Luepold

University of Zurich

Abstract

Switzerland was for a very long time characterised by a strong tradition of self-regulation by private actors in the economic sphere rather than by an extensive and detailed legal framework. This is particularly true in the field of corporate governance and more precisely visible in the Stock Corporation Law, the supervision of the stock exchanges and accounting rules. Due to very lax legal rules, mechanisms of private governance complemented the minimal legal framework in these three fields. Over the last twenty or so years, these mechanisms of self-regulation have nonetheless undergone profound change. In fact, private self-regulation has been incrementally formalised and replaced by more specific public regulations in five important fields: the transferability of shares, proxy-voting by banks, takeover bids, supervision of the stock exchanges and accounting rules. Due to changes in the international context, to the shifting preferences of important economic actors, and to the emergence of new actors (institutional investors and accountants), the legal framework of Swiss corporate governance has been reformed in a significant way.

Keywords: Corporate governance, Switzerland, self-regulation, regulatory state, company law, stock corporation law

Suggested Citation

Mach, André and Schnyder, Gerhard and David, Thomas and Luepold, Martin, Transformations of Self-Regulation and New Public Regulations in Swiss Corporate Governance (1985-2002) (Transformations De L'Autorégulation Et Nouvelles Régulations Publiques En Matière De Gouvernement D'Entreprise En Suisse (1985-2002)). Swiss Political Science Review, Vol. 12, pp. 1-32, 2006, World Political Science Review, Vol. 3, No. 2, 2007, Available at SSRN: https://ssrn.com/abstract=918437

André Mach (Contact Author)

University of Lausanne ( email )

Quartier Chambronne
Lausanne, Vaud CH-1015
Switzerland

Gerhard Schnyder

Loughborough University London - Institute for International Management ( email )

Lesney Avenue
Here East
London, E15 2GZ
Great Britain
+44 (0)20 3805 1360 (Phone)

University of Cambridge - Centre for Business Research ( email )

Judge Business School Building
Cambridge, CB2 1AG
United Kingdom
++44 (0)1223 765325 (Phone)

HOME PAGE: http://www.cbr.cam.ac.uk/people/research-associates/gerhard-schnyder/

Thomas David

University of Lausanne ( email )

Quartier Chambronne
Lausanne, Vaud CH-1015
Switzerland

Martin Luepold

University of Zurich ( email )

Zurich
Switzerland

Do you have negative results from your research you’d like to share?

Paper statistics

Abstract Views
824
PlumX Metrics