The new communication of the European Commission about company law and corporate governance (21th May 2003) proposes some rules links to transparency and shareholders protection , this orientation is positive but classical . We can find it in previous texts concerning financial markets...On the scope question what is a good governance ? The text fails to propose a european model of governance including something else than the duty of management in front of shareholders.
DE BEAUFORT, V. (2003). Orientations de la commission européenne en matière de gouvernance d'entreprises. Le Nouvel Economiste, pp. 24.