Corporate governance code
A body of recommended governance practice: compliance is voluntary, explaining departures is not.
How to read the number
The comply-or-explain principle moves attention from the fact of a departure to the reason for it, as disclosed in the company's own report.
When the metric lies
An explanation can be formal and compliance declarative: the value of the report lies in its specifics, not in the count of provisions observed.
Also known as: governance code