... recommendations and coercive requirements considering the enforcement of laws and norms in the different legal systems and to explain it in the light of the institutional theory approach. Design/methodology/approach The practices disclosed by a sample of the 20 largest companies listed on the stock exchanges...

... reasons why soft law regulation by corporate governance codes did not function on the German stock market. We additionally address behavioral aspects why investors do not give enough relevance to companies’ corporate governance statements so far. Corporate governance Disclosure Enforcement Soft law...