Disclosure of Corporate Governance Practices

Are they or aren't they? Two reports on ASX-listed companies' Corporate Governance Disclosure Practices: one says it's all ok, the other, not so.

See The Australian 14 June 2007. Note that this is in the leadup to revised ASX corporate governance principles.

It's important to recognise that not all companies need the same corporate governance mechanisms, and that this should be reflected in what they disclose (i.e., a "one size fits all" approach is not likely to be optimal). A harder question to answer is 'does corporate governance matter?'. Folks over at Wharton have had a good look, and find that corporate governance is more likely to be related to future than current accounting (and stock market) performance. Link (pdf file)