Codes and institutional work: Development the UK corporate governance code, 1992-2010

Conference: Academy of Management

Dates: August 2013

Abstract:

Codes of conduct seek to institutionalize certain practices and govern the actions of those who accept the regime. As they arise and seek to displace establish ways of life in organizations, they provide examples institutional change. This paper examines the processes through which the UK code of corporate governance arose and then developed over time. Through a close reading of responses to consultations informing the 1992, 2003 and 2010 versions of the code, it shows how arguments raised concerning the nature of the ethos of the boardroom reflect only in part the differences suggested by the respondents’ positions in the investment supply chain about board effectiveness and "good" corporate governance. The institutional work, and whether it is creating, maintaining or disrupting, is contingent on one's position in the field.

Source: Manual