It was a rocky reception for the Australian governance code, writes Alexander Gisz, but a few months on the market is showing a grudging acceptance
Talk about whine and moan. You would have thought it was the end of capitalism the way the market carried on when the Australian Stock Exchange (ASX) announced it was preparing the snappily titled Principles of Good Corporate Governance and Best Practice Recommendations late last year.From the outset the doomsday merchants were critical of almost every aspect of the new code. The Australian Institute of Company Directors (AICD), which was involved in its development, initially refused to put
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