Enhancing Firm Sustainability Through Governance

Enhancing Firm Sustainability Through Governance

The Relational Corporate Governance Approach

Corporations, Globalisation and the Law series

Francesco de Zwart

This important book presents a fresh perspective on corporate governance and how the relationship between governance mechanisms, processes and variables should be understood through a new unifying theory: the relational corporate governance approach. The approach acts as a tool for analysing the governance health of individual companies and suggests the actions required to remedy sub-optimal governance arrangements. A wide selection of articles, empirical studies and literature have been translated into an original theory which complements existing law and economics models of the firm.

Chapter 6: Key Field No 3: Comparative corporate governance codes

Francesco de Zwart

Subjects: business and management, corporate governance, international business, law - academic, corporate law and governance


This chapter has three principal purposes. First is to identify underlying themes of the Comparative Codes Key Field No 3 (Comparative Corporate Governance Codes) for the identification, construction and articulation of the three relational axes of good governance and the eight governance factors in Chapter 2. As a continuing theme, the governance factors are the eight most significant and recurrent themes underlying the four Key Fields as drawn from the SSRN platform. In other words, the chapter assesses the continuity and commonality of particular aspects of governance in global and national governance codes. Continuity is measured by identifying governance variables which recur over time throughout the evolution (including reform) of governance codes in a sector. Relative importance is measured by ‘commonality’ of governance variables in the codes of a particular sector and across all sectors. The list of recurring variables is known as a ‘commonality table’.

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