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Corporate Governance and Company Law Reform: a German perspective

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  • Michael Nietsch

Abstract

Corporate crises and international trends in corporate governance have revealed the need for reform, and resulted in a great number of changes in corporate law. In spite of this, the existing legal framework for corporate governance in Germany presents itself reluctant to major changes. The German approach to reform has focused on the improvement of corporate monitoring by the supervisory board. It neither questions the two‐tier structure, nor does it reconsider the existing representation of shareholders or other stakeholders under the current form of co‐determination. The German Corporate Governance Code represents a new instrument of soft law and its recommendations are likely argued to improve the work of the supervisory board by providing detailed guidelines for corporate decision‐making that express a generally accepted standard of best practice.

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  • Michael Nietsch, 2005. "Corporate Governance and Company Law Reform: a German perspective," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 368-376, May.
    • Handle: RePEc:bla:corgov:v:13:y:2005:i:3:p:368-376
    DOI: 10.1111/j.1467-8683.2005.00431.x
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    References listed on IDEAS

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    1. Höpner, Martin & Jackson, Gregory, 2001. "An emerging market for corporate control? The Mannesmann takeover and German corporate governance," MPIfG Discussion Paper 01/4, Max Planck Institute for the Study of Societies.
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    Cited by:

    1. Panagiotis Staikouras & Christos Staikouras & Maria-Eleni Agoraki, 2007. "The effect of board size and composition on European bank performance," European Journal of Law and Economics, Springer, vol. 23(1), pages 1-27, February.
    2. Ernstberger, Jürgen & Vogler, Oliver, 2008. "Analyzing the German accounting triad -- "Accounting Premium" for IAS/IFRS and U.S. GAAP vis-à-vis German GAAP?," The International Journal of Accounting, Elsevier, vol. 43(4), pages 339-386, December.
    3. Yeh, Chien Mu & Taylor, Tracy & Hoye, Russell, 2009. "Board roles in organisations with a dual board system: Empirical evidence from Taiwanese nonprofit sport organisations," Sport Management Review, Elsevier, vol. 12(2), pages 91-100, May.
    4. ATM Adnan & Nisar Ahmed, 2019. "The Transformation Of The Corporate Governance Model: A Literature Review," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 8(3), pages 7-47.
    5. Thomas Gstraunthaler & János Lukács & Marcel Steller, 2008. "The Board of Directors and its Role in the Corporate Governance System - Considerations about the Control Model - A Research Note," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 1(1), pages 37-54, April.

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