Universal banking, control rights, and corporate finance in Germany
AbstractThis article describes the most important corporate governance practices in contemporary Germany. These practices include a prominent role for universal banks, other large financial and non-financial firms, and employees through a system known as codetermination. While some similarities exist, many features of corporate governance in Germany differ greatly from those found in the United States. This article provides historical background and a review of the existing empirical evidence on these topics.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of St. Louis in its journal Review.
Volume (Year): (1998)
Issue (Month): Jul ()
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Hans Degryse & Steven Ongena, 2001.
"Bank Relationships and Firm Profitability,"
Financial Management Association, vol. 30(1), Spring.
- Frank A. Schmid & Mark Wahrenburg, 2002. "Mergers and acquisitions in Germany," Working Papers 2002-027, Federal Reserve Bank of St. Louis.
- Elston, Julie Ann & Goldberg, Lawrence G., 2003. "Executive compensation and agency costs in Germany," Journal of Banking & Finance, Elsevier, vol. 27(7), pages 1391-1410, July.
- Franks, Julian R & Mayer, Colin, 2001.
"Ownership and Control of German Corporations,"
CEPR Discussion Papers
2898, C.E.P.R. Discussion Papers.
- Gorton, Gary & Schmid, Frank A., 2000.
"Universal banking and the performance of German firms,"
Journal of Financial Economics,
Elsevier, vol. 58(1-2), pages 29-80.
- Gary Gorton & Frank A. Schmid, 1996. "Universal Banking and the Performance of German Firms," NBER Working Papers 5453, National Bureau of Economic Research, Inc.
- Gary Gorton & Frank Schmid, 2002.
"Class struggle inside the firm: a study of German codetermination,"
2000-025, Federal Reserve Bank of St. Louis.
- Gary Gorton & Frank Schmid, 2000. "Class Struggle Inside the Firm: A Study of German Codetermination," Center for Financial Institutions Working Papers 00-36, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Gary Gorton & Frank Schmid, 2000. "Class Struggle Inside the Firm: A Study of German Codetermination," NBER Working Papers 7945, National Bureau of Economic Research, Inc.
- Becht, Marco & Boehmer, Ekkehart, 2003.
"Voting control in German corporations,"
International Review of Law and Economics,
Elsevier, vol. 23(1), pages 1-29, March.
- Robert S. Chirinko & Hans van Ees & Harry Garretsen & Elmer Sterken, 1999.
"Firm Performance, Financial Institutions and Corporate Governance in the Netherlands,"
CESifo Working Paper Series
210, CESifo Group Munich.
- Chirinko, Bob, 1999. "Firm performance, financial institutions and corporate governance in the Netherlands," Research Report 99E40, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Schmidt, Reinhard H., 2003. "Corporate Governance in Germany: An Economic Perspective," CFS Working Paper Series 2003/36, Center for Financial Studies (CFS).
- Edwards, Jeremy S S & Weichenrieder, Alfons J, 2009.
"Control Rights, Pyramids, and the Measurement of Ownership Concentration,"
13830, University Library of Munich, Germany.
- Edwards, Jeremy S.S. & Weichenrieder, Alfons J., 2009. "Control rights, pyramids, and the measurement of ownership concentration," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 489-508, October.
- Din, Shahab-u- & Javid, Attiya Yasmin, 2011. "Impact of managerial ownership on financial policies and the firm’s performance: evidence Pakistani manufacturing firms," MPRA Paper 37560, University Library of Munich, Germany.
- Andreani, Ettore, 2003. "Corporate Control and the Financial System in Germany: Recent Changes in the Role of Banks," Thuenen-Series of Applied Economic Theory 37, University of Rostock, Institute of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Xiao).
If references are entirely missing, you can add them using this form.