New development: Local corporate governance and the German Public Corporate Governance-Model Code for international support

Abstract

IMPACTThe author explains how practitioners in corporate governance and the managers of municipally owned enterprises (MOCs) will benefit from using Public Corporate Governance Codes (PCGCs) as practical guidelines. The ‘comply-or-explain’ principle allows flexibility, while tailoring governance to specific local needs. This article introduces the German Public Corporate Governance-Model Code (G-PCGM) as a point of reference for enhancing governance structures and practices. City economy strategies, also highlighted in the article, offer practical roadmaps for aligning strategy and business models for modern services of general interest. Practitioners can profit directly from both tools for their strategic work, improving governance, and increasing public value and public trust in MOCs.

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