scholarly journals Gender Quota in the Boardroom: The Dutch Approach

2015 ◽  
Vol 20 (1) ◽  
pp. 75
Author(s):  
Mijntje Luckerath-Rovers
Keyword(s):  
The Netherlands ◽  
Annual Report ◽  
Listed Companies ◽  
Civil Code ◽  
Average Percentage ◽  
Balanced Distribution ◽  
Supervisory Boards ◽  
Gender Quota ◽  
Executive Boards ◽  
Comply Or Explain

Since 2013 the Dutch Civil Code has required a minimum of 30 per cent women (and men) on both the executive and the supervisory boards of companies. The law is based on the comply or explain principle: companies that have not reached the 30 per cent target on one or other of these Boards should explain in their annual report why the seats are not evenly distributed, how the company has tried to achieve a balanced distribution of the seats and how the company intends in future to realise a balanced distribution of the seats. Research among the 87 listed companies in the Netherlands shows that the average percentage of women on supervisory boards increased to 25 per cent in 2014, but that the percentage on executive boards increased only to 6 per cent. While the 30 per cent target should have been reached by January 2016, it seems only a matter of time before a quota with sanctions will be introduced in the Netherlands.

scholarly journals Looking back and moving forward: A closer look at the Dutch gender quota

2016 ◽  
Vol 5 (4) ◽  
pp. 7-15
Author(s):  
Annika Galle
Keyword(s):  
Content Analysis ◽  
The Netherlands ◽  
Annual Report ◽  
Listed Companies ◽  
Annual Reports ◽  
The Government ◽  
Gender Quota ◽  
A Company ◽  
Looking Back ◽  
Comply Or Explain

The Dutch Civil Code stipulates that, for balanced gender representation, 30% of seats on the boards of large corporations should be occupied by women. If a company does not meet this requirement, the company is compelled to be transparent in its annual report by means of the ‘comply or explain’ principle. This article analyses the application of this rule through content analysis of the annual reports of 52 listed companies in 2012 and 49 in 2013. The article discusses whether this rule has the desired effect of creating transparency on the gender quota. The conclusion is that ‘the comply or explain’ mechanism is inadequate without further measures, including sanctions. For 2012, 21% of the companies researched made no mention in their annual report of the application of the gender quota. In 2013, 18% of the companies made no mention of it. The companies that did indicate that they did not meet the quota failed to provide the required transparency. The reasons cited for not meeting the quota are nothing more than clichéd phrases, lacking any specificity. If the Netherlands wants to achieve the European and Dutch targets with the aid of the ’comply or explain’ mechanism, the government will have to introduce additional mechanisms, including sanctions - or, alternatively, steer an entirely different course.

Part III Prospectus Liability and Litigation, 24 The Netherlands

2020 ◽  
Author(s):  
Franx Jan Paul
Keyword(s):  
The Netherlands ◽  
Annual Report ◽  
Civil Code ◽  
Corporate Law ◽  
Joint And Several Liability ◽  
Prospectus Liability ◽  
History Of ◽  
A Company ◽  
Special Category

This chapter discusses Dutch law. The history of the present statutory rules on prospectus liability in the Netherlands dates back to 1928, the year in which Dutch corporate law was codified. Like the annual report which companies had to publish on a yearly basis, the Dutch legislator considered the prospectus as a corporate document and therefore was of the opinion that a statutory rule on prospectus liability should be issued together with the Companies Act. Codification of prospectus liability was effectuated by formulating it as a special category of tort in the Dutch Civil Code (DCC). The act of 1928 provided that managing and supervisory directors of the issuer would be jointly and severally liable with the issuer itself for misleading statements in the prospectus. This had to do with the view of the legislator — that the decision of investors to invest in a company was to a large extent based on the reputation of management. As a result of this joint and several liability of directors, the first Dutch legislation on prospectus liability can be considered as being particularly investor friendly.

scholarly journals Reporting about value creation – Evidence from the Netherlands

2020 ◽  
Vol 94 (7/8) ◽  
pp. 313-329
Author(s):  
Kavita Nandram ◽  
Mohamed El Harchaoui
Keyword(s):  
The Netherlands ◽  
Financial Reporting ◽  
Value Creation ◽  
Annual Report ◽  
Good Practice ◽  
Listed Companies ◽  
Annual Reporting ◽  
A Company ◽  
Insight Into

Value creation is a key element in transparent and informative reporting, as it gives a better impression of the risks and opportunities that a company faces. Companies are expected to report about value creation in their annual report under various regulations and frameworks in relation to non-financial reporting. Therefore, the aim of this study is to obtain insight into whether Dutch AEX and AMX listed companies are making any progress on reporting about value creation in their 2018 annual reporting. Our analysis shows that reporting about value creation can be more specific and companies can pay more attention to any possible destruction of value. Additionally, companies can provide better insight into the long term and other effects of their chosen strategy in their value creation models. The paper provides a number of examples of good practice as inspiration for companies.

Does gender diversity in supervisory boards affect gender diversity in management boards in Germany? An empirical analysis

2021 ◽  
pp. 239700222199714
Author(s):  
Dennis Fleischer
Keyword(s):  
Fixed Effects ◽  
Structural Equation ◽  
Gender Diversity ◽  
Supervisory Board ◽  
Board Members ◽  
Governance System ◽  
Management Board ◽  
Supervisory Boards ◽  
Gender Quota ◽  
The Impact

Social aspects like gender diversity in the boardroom are becoming increasingly relevant and are a popular topic of public debate in the context of gender equality in business. However, there is little clarity about the potential spill-over effects of gender diversity. Both theory and empirical results have led to ambiguous conclusions with respect to the effect of gender diversity in the supervisory board on gender diversity in the management board. In addition, it is not clear whether the German gender quota legislation positively affects this relationship. This study analyses whether gender diversity in the supervisory board supports the gender diversity of the management board, and whether this relationship is affected by the gender quota legislation, focusing on the unique case of Germany. To cope with endogeneity concerns, this study employs a cross-lagged panel model with fixed effects using maximum likelihood structural equation modelling. The results of the analysis of the impact of the number of female supervisory board members on the number of female management board members do not support the view of positive spill-over effects of gender diversity in the environment of the German two-tier corporate governance system. Furthermore, this study finds no evidence of an effect of the German gender quota on this relationship. JEL Codes G38, M12, M14, M51

scholarly journals Sustainability Reporting Practices: Evidence from Bangladesh

2017 ◽  
Vol 7 (2) ◽  
pp. 61
Author(s):  
Sumaiya Akhter ◽  
Pappu Kumar Dey
Keyword(s):  
Human Rights ◽  
Content Analysis ◽  
Community Development ◽  
Annual Report ◽  
Sustainability Reporting ◽  
Listed Companies ◽  
Employee Benefits ◽  
Global Reporting Initiative ◽  
Reporting Practices ◽  
Product Responsibility

The objective of this paper is to examine the nature and extent of sustainability reporting practices by the listed companies in Bangladesh. In order to fulfill this objective, the research has examined the content analysis of annual report (2015-2016) and website of the top 50 listed companies (according to market capitalization). Based on Global Reporting Initiative (GRI) G4 guidelines, the study investigates three broad areas i.e. economic, environmental and social with 40 indicators. The findings of the study demonstrate that organizations in Bangladesh address few sustainability issues. Companies focus more on community development which is 90%, followed by employment and employee benefits (67%). The level of disclosures in website is meagre where only 26% of the sample companies disclose at least one indicator. Organizations’ attention on issues like environment, human rights and product responsibility is limited in relation to other issues. The extent of disclosure is also poor that is 66% of the companies use less than 25 sentences in sustainability reporting. Moreover, only 16% of the sample companies use separate sustainability reporting section. The limited disclosures on sustainability issues may be because of voluntary sustainability reporting in Bangladesh.

scholarly journals Peculiarities of Usufruct in the Countries of Roman-German Law: Implementation of Best Practice in Ukrainian Law

2021 ◽  
Vol 4 (2) ◽  
pp. 61-80
Author(s):  
Roman A. Maydanyk ◽  
Nataliia I. Maydanyk ◽  
Natalia R. Popova
Keyword(s):  
The Netherlands ◽  
Best Practice ◽  
German Law ◽  
Civil Code ◽  
European Countries ◽  
Real Right ◽  
The Law

The article examines the features of usufruct in the European countries of Romano-Germanic law, determines the terms for the implementation of the best European practice of usufruct in the law of Ukraine. The law of European countries of continental law recognizes the usufruct as a real right of personal possession for use, which is considered an independent real right to another's property or a kind of easement. The peculiarities of usufruct in some countries of Romano-Germanic law, in particular in Germany, France, Georgia, Moldova and Russia, are researched. The peculiarities of usufruct in some countries of Romano-Germanic law, in particular in Germany, France, Poland, the Netherlands, Switzerland, Georgia, Moldova and Russia, are researched. The issues of usufruct implementation in the law of Ukraine are considered. The issues of usufruct implementation in the law of Ukraine are considered. The authors came to the conclusion that it is necessary to introduce the institute of usufruct into the Ukrainian law by supplementing the Civil Code of Ukraine with a new chapter “Uzufruct”, the framework provisions of which are proposed in this paper.

scholarly journals POSISI HUKUM ADAT DALAM HUKUM KONTRAK NASIONAL INDONESIA

2015 ◽  
Vol 93 ◽  
Author(s):  
Paripurna P Sugarda ,
Keyword(s):  
The Netherlands ◽  
Civil Code

<h2>Abstract</h2><p>Cepat atau lambat Indonesia akan memiliki hukum perjanjiannya sendiri. Alasan dari pernyataan ini adalah bahwa, pertama, hukum kontrak Indoensia sekarang adalah sebenarnya hukum yang diatur dalam Buku III dari KUH Perdata Lama yang tidak lagi digunakan di negera Belanda. Kedua, karena dalam Hukum Kontrak Indonesia tidak sesuai dengan sifat dari bangsa Indonesia. Dari penelitian ini ditemukan bahwa, pertama, asas-asas hukum perdata barat jika dihadapkan dengan asas-asas hukum perdata adat maka asas-asas hukum perdata barat cenderung bersifat individualistik sedangkan asas hukum perdata adat cenderung bersifat komunalistik. Hukum barat dalam perkembangannya mengalami proses koletivisasi sedangkan hukum adat mengalami proses indvidualisasi. Kedua, ada dua faktor yang mempengaruhi terbentuknya suatu hukum yakni faktor idiil dan faktor riil. Asas-asas kekeluargaan, gotong-royong, dan tolong-menolong merupakan asas yang hukum adat yang merupakan faktor idiil dalam pembentukan hukum kontrak Nasional, sedangkan asas rukun, kepatutan atau kepantasan dan laras (harmoni) merupakan asas hukum adat yang merupakan faktor riil dalam pembentukan hukum kontrak nasional. Ketiga<strong>, </strong>hukum perjanjian Indonesia (KUH Pdt Belanda Lama), di Belanda, dengan <em>the Netherlands New Civil Code </em>(NBW) kearah yang lebih jelas, lebih luas cakupannya, dan lebih terarah penerapannya. Hal ini dapat dilihat dari bagaimana Hukum Perdata Belanda mengembangkan peraturan yang mengandung asas itikad baik. Keempat, dengan perkembangan pengaturan asas itikad baik yang terjadi di Belanda, asas-asas hukum adat berpeluang untuk tampil dan dipergunakan dalam hukum kontrak nasional. Cara yang mungkin dilakukan untuk menampilkan asas-asas hukum adat dalam hukum kontrak nasional adalah dengan menggunakan proses konkretisasi asas itikad baik dalam hukum kontrak sebagai sarananya. Dengan demikian, seyogyanya asas-asas hukum adat tersebut di atas merupakan landasan dan latar belakang pembentukan hukum kontrak Indonesia yang akan datang.</p> <p><strong>Kata kunci: </strong>Hukum Kontrak Indonesia yang akan datang, Prinsip-prinsip Hukum Adat</p>

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