Showing 1 - 10 of 177
We empirically study the use of value-based management systems in listed German firms and examine implications for firms' stock market performance. Using a novel, hand-collected data set covering 1,083 firm years from 2002 to 2008, we find that value-based management systems become increasingly...
Persistent link: https://www.econbiz.de/10010305697
While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were invented only some ten years ago. Even in 1996 firms faced considerable regulatory difficulties when willing to grant such incentives. In the meantime the legal environment has...
Persistent link: https://www.econbiz.de/10010305700
A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...
Persistent link: https://www.econbiz.de/10010331088
This paper uses clinical evidence to show how the German system of corporate control and governance is both more active and more hostile than has previously been suggested. It provides a complete breakdown of ownership and take-over defence patterns in German listed companies and finds highly...
Persistent link: https://www.econbiz.de/10011608338
Familienunternehmen gelten in der öffentlichen Wahrnehmung als besonders innovativ und als Hidden Champions der deutschen Wirtschaft. In jüngster Zeit widmen sich Forscher vermehrt der Überprüfung dieser These und kommen zu diametral unterschiedlichen Ergebnissen. Einerseits wird...
Persistent link: https://www.econbiz.de/10010308799
The notion that good corporate governance means maximizing shareholder value derives from the neoclassical theory of the market economy. I explain why this perspective is highly problematic for understanding the operation and performance of the business corporation and hence the institutions...
Persistent link: https://www.econbiz.de/10010284552
den USA und Großbritannien. Die dortigen Märkte seien, so das ifh, zum einen nicht mit den europäischen Gegebenheiten … auf die bereits vorliegenden Forschungen zur Deregulierung durch die HwO-Novelle 2004 stützen könne. Jüngste Forschungen … sich nicht belegen, dass die Deregulierung des Handwerks seit 2004 zu einem Beschäftigungswachstum geführt habe. Die …
Persistent link: https://www.econbiz.de/10011964150
Persistent link: https://www.econbiz.de/10011696564
Persistent link: https://www.econbiz.de/10011318655
Persistent link: https://www.econbiz.de/10010309780