Corporate Governance In Germany
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German Corporate Governance In International And European Context
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Author : Jean J. du Plessis
language : en
Publisher: Springer
Release Date : 2017-10-07
German Corporate Governance In International And European Context written by Jean J. du Plessis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-07 with Law categories.
The book provides readers with an overview of the unique features of German business and enterprise law and an in-depth analysis of the organs of governance of German public limited companies (general meeting, management board, supervisory board). In addition, approaches for reforms required at the international level are also suggested and discussed, including, among others, the unique interplay and dynamics of the German two-tier board model with the system of codetermination, referring to the arrangement of employees sitting on the supervisory boards of German public limited companies and private companies employing more than 500 employees; also covered are significant recent legal developments in Europe.The book highlights the core function of valuation and financial reporting at the international, European and German levels, with accounting as the documentary proof of good corporate governance. Corporate governance encompasses the free enterprise system, which is treated comprehensively in this book from a German perspective. This distinguishes the book from other books written in English in this subject area, not only because of the comprehensive way it covers German corporate law and corporate governance, but also because of the fact that it provides international and European perspectives on these important topics.The book is addressed to researchers, practitioners and basically anyone with an interest in the complex, but intriguing areas of corporate law and corporate governance.
Corporate Governance In Germany And The Us
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Author : Marcus Fuchs
language : en
Publisher: GRIN Verlag
Release Date : 2015-06-10
Corporate Governance In Germany And The Us written by Marcus Fuchs and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-10 with Political Science categories.
Essay from the year 2013 in the subject Politics - General and Theories of International Politics, grade: 1,3 (German Grading System), University of Washington, language: English, abstract: After scandals like Enron in the past years, companies have been pressured to establish Corporate Governance systems to control their management. The design of these systems is often determined on a national level, but varies substantially from country to country. This paper deals with the different systems of Corporate Governance in the United States and Germany and establishes a comparison. The focus is put on how the German system is different from that of the US. At the end, recent developments in the Corporate Governance landscape are discussed. To begin with, it is important to understand what Corporate Governance means. It is defined as “The system of rules, practices and processes by which a company is directed and controlled”. These rules, practices and processes are supposed to achieve values like integrity, transparency and fairness. Thereby, Corporate Governance can support a corporation to “fulfill its goals and objectives in a manner that adds to the value of the company and is also beneficial for all stakeholders in the long term”. Furthermore, it strengthens a company’s reputation and has shown to increase share prices by establishing trust. Potential investors, who might not be familiar with a corporation’s processes and controlling practices in detail, can rely on statutory monitoring systems.
Corporate Governance In Germany
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Author : Jens Köke
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Corporate Governance In Germany written by Jens Köke and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Corporate governance is an important issue on the research agenda of financial economists. Using a new and unique data set of German corporations this book examines three topics that are crucial to a better understanding of corporate governance: (a) the frequency, causes, and consequences of control transfers, (b) the determinants of acquisition and failure, and (c) the role of corporate governance and market discipline for productivity growth. This book points out methodological drawbacks of previous empirical studies and provides suggestions on how to avoid these problems in research practice.
A Primer On Corporate Governance
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Author : Till Talaulicar
language : en
Publisher:
Release Date : 2015-09-06
A Primer On Corporate Governance written by Till Talaulicar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-06 with categories.
The book presents a thorough overview of corporate governance in Germany. Comprehending the German corporate governance system is challenging as it differs remarkably from the Anglo-American one and rests on rules and regulations from various sources. After introducing some macroeconomic fundamentals of the German economy and its stock markets, this book therefore provides an in-depth description of the regulatory framework of corporate governance in Germany, its basics and its peculiarities from a global perspective. Moreover, the structure and operation of governing the German stock corporation is explained both comprehensively and comprehensibly. The target audience includes executives, investors, scholars and rule-makers interested in deepening their understanding of the German system of corporate governance, its fundamentals, forms and distinctive features.
The German Code Of Corporate Governance
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Author : Alicja Krum
language : en
Publisher: diplom.de
Release Date : 2002-11-15
The German Code Of Corporate Governance written by Alicja Krum and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-11-15 with Business & Economics categories.
Inhaltsangabe:Abstract: The management and supervision of corporations, known as corporate governance in English and, frequently, in German-speaking countries as well, has been a topic of discussion since beginning of the 90's in the USA. After arriving in Great Britain the discussion subsequently spread to Continental Europe. In Germany, the effective supervision of corporations became a central topic of debate after several well-known corporations came under scrutiny for mismanagement. In such cases the corporations supervisory boards were criticised in particular, as their supervision of management was considered insufficient and ineffective. The relation between management and owners of a corporation represents the basic problem of the corporate governance discussion. The management of a corporation must take the interests of large-scale investors and, accordingly, the interests of smaller investors into consideration. Against this background, the influence of the stakeholders is repressed. The shareholder value system, thus, becomes increasingly important. Globalisation and the resulting integration of capital markets has caused more and more large institutional investors -especially, those from Anglo-Saxon countries- to put their financial assets to the test in order to check the efficiency of management and supervision. In Germany, in particular, effective regulations on corporate governance have been missing until now. In most of the other countries with a free market economy, a code of conduct with generally accepted principles is already in existence. These principles enable investors to check and to judge systematically a corporation in regard to its corporate governance. Corporations with transparent supervisory systems obtain clearly better stock quotations as corporations without those systems. Numerous surveys have found that institutional investors are willing to pay up to a 20 percent premium for shares of corporations with good corporate governance. Such investors maintain that transparency and efficient supervision reduce the risk of mismanagement. Due to both the internal pressure of mismanagement and the external change caused by the globalisation of capital markets, the corporate governance discussion in Germany has resulted in much effort to create a system of regulations to make Germany more attractive to international investors. In addition to this, the regulations are intended to stem the criticism of numerous [...]
The Influence Of Institutional Investors On Corporate Management And Corporate Governance In Germany
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Author : Sebastian Sturm
language : en
Publisher: GRIN Verlag
Release Date : 2009-04-14
The Influence Of Institutional Investors On Corporate Management And Corporate Governance In Germany written by Sebastian Sturm and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-14 with Business & Economics categories.
Diploma Thesis from the year 2008 in the subject Business economics - Law, grade: 1,3, Technical University of Chemnitz, language: English, abstract: Corporate management and corporate governance are becoming more and more crucial in today’s successful economies. With the increasing relevance of capital markets this subject comes more into the focus of the public. Particularly, the fast growing importance of institutional investors is a key factor which helps to explain the changing attitude of managers towards shareholders and corporate governance. In conjunction with the German capital market, a wide variety of mismanagement in German public limited companies has revealed shortfalls of German top-management and corporate control in the last decade. This development was of fundamental importance for the development of the German Corporate Governance Code. Hence, the basic underlying of corporate governance can be attributed to a conflict between the management of a listed corporation and its owners. More precisely, this conflict arises because the management does not adequately comprise the interests of shareholders. In Germany, assets under management of professional investors have increased at 92 percent from 1990 to 2001.1 In addition, a growing administration of private savings by professional fund managers as well as the intensified exercise of influence by institutional investors on corporate governance and corporate management respectively corporate strategy is observable. Similarly, a growing importance of institutional investors could be observed in the United Kingdom as well as in the United States. Within academic literature, the issue of activism by institutional investors in Germany is analyzed little, so far. Furthermore, there are only a few surveys on the outcome of the influence by institutional investors on corporate management. Therefore, this thesis aims to answer the following questions: 1. How was the development of shareholder activism in Germany and how can it be characterized and explained? 2. Is shareholder activism a superior tool in relation to the market of corporate control to solve the principal-agent problem? 3. What do institutional investors demand from German corporations and in particular from corporate management? 4. Which options do institutional investors have to influence corporate management? 5. How are these options for activism covered by the German Corporate Governance Code and the German legal framework? 6. What is the optimum corporate governance from an institutional investor’s angle? 7. What is the empirical outcome?
Corporate Governance And Expected Stock Returns
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Author : Andreas Schillhofer
language : de
Publisher: Springer-Verlag
Release Date : 2013-03-08
Corporate Governance And Expected Stock Returns written by Andreas Schillhofer and has been published by Springer-Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-08 with Business & Economics categories.
Based on his Corporate Governance Rating (CGR) for German firms, Andreas Schillhofer documents a positive relationship between the CGR and firm value. In addition, there is strong evidence that expected returns are negatively correlated with the CGR if dividend yields and price-earnings ratios are used as proxies for the cost of capital.
Corporate Governance In Germany
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Author :
language : en
Publisher:
Release Date : 1997
Corporate Governance In Germany written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Corporate governance categories.
Corporate Governance Regulation And Financial Markets Germany S Pathway To A Market Based System
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Author : Alexander Behne
language : en
Publisher: GRIN Verlag
Release Date : 2017-03-14
Corporate Governance Regulation And Financial Markets Germany S Pathway To A Market Based System written by Alexander Behne and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-14 with Business & Economics categories.
Seminar paper from the year 2015 in the subject Economics - Finance, grade: 1,3, University of Leipzig (Wirtschaftspolitik), course: Development of Financial Markets and Institutions, language: English, abstract: Few areas of business economics are discussed in such a controversial manner as different corporate governance systems. In a globalized age in which the capital markets of industrialized countries have a large operating range and a growing degree of internationalization, the design and regulation activities in this field have become increasingly important. This has triggered a "competition of institutions". In the current academic discussion, different corporate governance paradigms are being examined, to figure out, which could be the most successful in a market economy in order to attract investors. It considers what system of management of a capitalled company is the most appropriate - in order to provide a location or rather a country - a competitive advantage in competition for global players. It is assumed that the type of the corporate governance system influences the company’s success or even more on the entire national economy. As reference points, the German and the US model are often being used. Since they are opposed to one another in their paradigmatic and thus embody the exemplary corporate governance system. In addition, since the Cold War and beyond, the US has been a hegemon and has always had a great influence on the economic and financial system worldwide. Germany is regarded as the political and economic core of the most important partner of the USA, the European Union. Both are regarded as a highly developed economic system; their further development will attract attention beyond their national borders. Although, the aim of corporate governance is identical, the institutional design and the underlying philosophies differ. As of a 1980 ́s it appears that the German bank-based system cannot meet the needs of the swift progress of financial markets. From the 1990s onwards, especially in the case of some serious legal measures in Germany, a move towards capital market orientation has been taking place. Since the prediction of a system convergence has been considered critical - because they are embedded in a corresponding cultural and socioeconomic system, which makes the transferability of the respective economic paradigms doubtful - this paper tries to examine if these legal regulations triggered a change in the German financial system.
Corporate Governance In Germany
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Author : Alessia Pisoni
language : en
Publisher:
Release Date : 2009
Corporate Governance In Germany written by Alessia Pisoni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.