The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners' control rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on voting power indices, is proposed, and the different...

We examine evidence for a systematic underperformance of Germany's state-owned banks in the current financial crisis and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the biographical background of 593 supervisory board members in the 29...

The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile takeover of Mannesmann in 2000 and it is again in the spotlight since the outbreak of the financial crisis of 2009. Based on unique panel data evidence of the 500 largest firms...

Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...

This is the second part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series. The A case...

This is the sixth and final part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series....

This is the fifth part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series. The A case...

This is the fourth part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series. The A case...

This is the third part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series. The A case...

This is the fifth part of an undisguised six-case series in which the son of a company founder leaves academe to take control of the business. Issues of how to take control, dealing with the union, building trust and respect, and managing change and growth all come up in the series. The A case...