Benchmarking corporate governance: an update

The performance of corporate directors in the UK was the subject of the Cadbury Report on the Financial Aspects of Corporate Governance. The Cadbury Code has been analyzed for its impact on the country's top 100 firms. Research shows that compliance with the code is a major part of the studied firms' corporate plan, where 98% have audit and renumeration committees. In addition, self-regulation was considered a better alternative to legislation based on code compliance.