Corporate Governance Debate in Europe: The Belgium Case
Posted: 8 Sep 2000
Abstract
Corporate governance is a subject matter that is keeping governments, regulators, business men, academics and many other parties busy all over Europe. Many reports have been published, and recommendations for better governance published. In Belgium, there are specific governance issues: controlling or important shareholders set the tune even in listed companies. Hence part of the debate turn around the question how to reduce the influence of these shareholders and make management more independent.A Code with good governance practices was recommended by Brussels Stock Exchange (on a comply or explain basis), and is in fact widely implemented.The Banking and Finance Commission has requested numerous disclosures to be made with respect to governance. Central items are: independent directors, separation Chairman-CEO, the three usual committees, At present, annual reports contain sections om governance that equal international practice. Awareness of the importance of good governance has increased considerably.
JEL Classification: G34
Suggested Citation: Suggested Citation