German Corporate Governance in Transition: Implications of Bank Exit from Monitoring and Control
Опубликовано на портале: 15-11-2007
International Journal of Disclosure and Governance.
2005.
Vol. 2.
No. 4.
P. 357-367.
Тематические разделы:
Close links between banks and large companies have been seen as a key component of Germany’s corporate governance system. The recent sale of large shareholdings by banks raises the question of to what extent this system will converge to the US model of dispersed ownership. This paper argues that concentrated ownership will remain a key feature of this system. In addition, board-level representation of employees and the lack of a culture of independent directors are further factors supporting incremental change in Germany’s corporate governance system rather than wholesale convergance to the US model.
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Review of International Political Economy.
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WZB Discussion Paper.
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