회사지배구조에서 법규제(Legal Rule)와 소프트 로(Soft Law)의 역할 및 관계Legal Rules and Soft Law in Corporate Governance
- Authors
- 윤영신
- Issue Date
- 2007
- Publisher
- 서울대학교 법학연구소
- Keywords
- legal rules; soft law; self-regulation; private-ordering; corporategovernance; the combined code; comply or explain; 회사지배구조; 소프트 로; 자율규제; 통합규준; 통합준칙; 통합규범; 준수 또는 설명
- Citation
- 서울대학교 법학, v.48, no.1, pp 85 - 104
- Pages
- 20
- Journal Title
- 서울대학교 법학
- Volume
- 48
- Number
- 1
- Start Page
- 85
- End Page
- 104
- URI
- https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/30177
- ISSN
- 1598-222X
- Abstract
- The corporate governance models of US and UK have influenced many
countries around the world. After the Enron scandal in the US, merit regulation
on corporate governance by mandatory legal rules was enhanced by enacting
Sabanes-Oxley Act. On the other hand, UK kept on the soft law approach on
corporate governance suggested first by the Cadbury Committee. In the UK,
listed companies are required by the Listing Rules to disclose whether they
comply with the Code or explain the reason in case of the deviation from the
Code. This ‘comply or explain’ approach has been followed by many countries,
including Germany.
In this article, the merits and weaknesses of these two comparable approaches
on corporate governance regulation are analyzed to provide some implications in
designing the regulations on corporate governance of Korean companies.
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