governance system in Germany. Therefore a breakdown of the traditional system leading to a control vacuum or a fundamental change …

costs. We used two different concepts of efficiency, namely, cost efficiency and alternative profit efficiency, and found … efficiency of CRBs. We failed to find very conclusive evidence that corporate governance theories apply to the Philippines' CRBs … that agency costs should reduce efficiency of CRBs, and we found a much clearer relationship on that issue. As expected …

Deutschland. Es entspricht daher einem legitimen Anliegen von Öffentlichkeit und Fachwelt, die herrschende Maßstäblichkeit der … to match the required legal standard and also to comply with the economic role of auditors in Germany’s system of …

. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent …

We analyze the stability of efficiency rankings of German universal banks between 1993 and 2004. First, we estimate … traditional efficiency scores with stochastic cost and alternative profit frontier analysis. Then, we explicitly allow for … different risk preferences and measure efficiency with a structural model based on utility maximization. Using the almost ideal …

While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were …