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Considering the shareholder perspective: value-based management systems and stock market performance

Rapp, Marc Steffen; Schellong, Daniel A.; Schmidt, … - 2010

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

Aktienbasierte Langfristanreize im Rahmen der Vorstandsverguetung: Evidenz auf Basis Deutscher Prime Standard Unternehmen

Rapp, Marc Steffen; Schaller, Philipp; Wolff, Michael - 2009

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

Corporate Governance in Germany: An Economic Perspective

Schmidt, Reinhard H. - 2003

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

Hostile stakes and the role of banks in German corporate governance

Jenkinson, Tim J.; Ljungqvist, Alexander P. - 1997

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

Der Kommissionsvorschlag zur Deregulierung des Handwerks - Eine kritische Einschätzung der ökonomischen Literatur

Lankau, Matthias; Müller, Klaus - 2015

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

Railway (De-)regulation in Germany

Knieps, Günter - In: CESifo DICE Report 03 (2005) 4, pp. 21-25

Persistent link: https://www.econbiz.de/10011696564

Worker directors: a German product that didn't export?

Addison, John T.; Schnabel, Claus - 2009

Despite its lack of attractiveness to other countries, the German system of quasiparity codetermination at company level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the empirical evidence on the effects of the institution, tracing...

Persistent link: https://www.econbiz.de/10010299746

Transparency of ownership and control in Germany

Becht, Marco; Boehmer, Ekkehart - 1999

We first analyse legal provisions relating to corporate transparency in Germany. We show that despite the new securities trading law (WpHG) of 1995, the practical efficacy of disclosure regulation is very low. On the one hand, the formation of business groups involving less regulated legal forms...

Persistent link: https://www.econbiz.de/10011608520

Corporate Governance von Genossenschaftsbanken: Ergebnisse einer empirischen Analyse zum Zusammenhang von Governanceelementen und der Bankperformance

Lenz, Benedikt - 2019

In diesem Arbeitspapier werden Merkmale von Vorstand und Aufsichtsrat, die Eigentümerstruktur und die Vergütung nicht-leitender Bankmitarbeiter sowie deren Zusammenhang mit dem Bankertrag und Bankrisiko untersucht. Diesem aktuellen Forschungsstand liegt ein Datensatz von 180...

Persistent link: https://www.econbiz.de/10012062707

Worker directors: a German product that didn't export?

Addison, John T.; Schnabel, Claus - 2009

Despite its lack of attractiveness to other countries, the German system of quasi-parity codetermination at company level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the empirical evidence on the effects of the institution, tracing...

Persistent link: https://www.econbiz.de/10010269284

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