The UK Corporate Governance Code – “Comply or Explain Model”.

Please write a paper specifically on the UK Corporate Governance Code (UKCGC) – 2018 edition attached, analyzing and evaluating the current UK Code of Corporate Governance and its effectiveness.
You may wish to focus on a particular element or elements of the UKCGC – such as the comply or explain principle or stakeholder engagement. Addressing, albeit briefly, the Code’s origins and development since 1992 would also be a valid part of the research.
Please keep the focus of the writing on the UKCGC, save for strictly necessary (and if so, very minimal) comparative analysis – the paper should solely focus on the Code and its effectiveness.