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This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and … lawsuit is pending with a court. In particular, mergers have to be implemented without any delay. The minority shareholders … voting power of minority shareholders and create incentives to use the real option inefficiently. Therefore, the majority …
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In this paper, I examine the compensation contracts of German shareholder and employee representatives as well as the role of co-determined supervisory boards and the impact on earnings management. The supervisory board participates in the firm's decision-making, but also has the key fiduciary...
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This paper analyzes the determinants of the German corporate governance rating recently developed by Drobetz, Schillhofer, and Zimmermann (2004). We find a non- linear relationship between ownership concentration and the quality of firmlevel corporate governance as measured by the rating. Firms...
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-specific determinants of dividend payout probabilities. Only the largest shareholders with equity stakes that are either between 25% and 50 …% or above 50% rank among the most important variables. The impact is non-linear. When controlling for shareholders …
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The role of outside directors is one of the key features in the transatlantic corporate governance debate. As their importance rises, their liability is also attracting attention. Since there are only a few cases internationally in which outside directors of listed companies have been held...
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