- Do ‘good governance’ codes enhance financial accountability? Evidence from managerial pay in Dutch charities
- Financial Accountability & Management
- Volume | Issue number
- 31 | 3
- Pages (from-to)
- Document type
- Faculty of Economics and Business (FEB)
- Amsterdam Business School Research Institute (ABS-RI)
This paper examines the initial impact of a ‘good governance’ code for charitable organizations that was promulgated in the Netherlands in 2005. Data are gathered from publicly available annual reports of 138 charities in the post-implementation phase of the code (2005-2008). We first examine whether the code altered charities’ governance structures. Next, we investigate managerial pay as a key aspect of discharging financial accountability because prior literature focused on ‘excessive’ compensation. The findings indicate that a strengthened governance structure positively affects the likelihood of disclosing information concerning managerial pay, as well it mitigates managerial pay level.
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