This paper examines the link between liquidity constraints and investment behaviour on the one hand, and firm size on the other for a large sample of German firms over the time period 1968-85. The results indicate that smaller firms tend to have investment functions which are more sensitive to...

The German Bundestag has adopted the Small Investor Protection Act on 23 April 2015, which will enter into force in the coming weeks. By this Act the German legislator establishes for the first time – among other things – a regulation of the German crowdfunding market. This article describes...

COSO defines ERM as a set of activities that lead to organizational alignment and accountability, given structured work with stable, mobile and combinable information objects. This study argues against this representation by offering three insights developed from case research. We observe ERM as...

The purpose of this paper is to contribute to the literature on director interlocks by illustrating and analysing the interlocking directorships among the Italian, French, German, UK and US listed Blue Chips. The comparison of the five countries considered shows that two national models stand...

Operational risk management is an important aspect in an organization to manage operational risk efficiently. Hence, this study intended to investigate the effects of internal and external factor in manufacturing industry towards operational risk. This study employs time series regression...

Empirical studies have shown that state-owned enterprises (SOEs), and especially the compensation of topmanagers, are very relevant to the performance and sustainable provision of public services. Whereas there are numerous studies on the compensation of top-management of private sector...

Empirical studies show that state-owned enterprises (SOEs) are very important for society. The compensation of executive directors is crucial in the debate on effective, efficient and sustainable public service provision. Nevertheless, there are very few empirical studies in the international...

This chapter deals with fundamental issues of corporate insolvency law. Particular attention is paid to the agency problems related to “bankruptcy governance” and how these are addressed in various jurisdictions. Methodologically, the chapter is based on a functional approach that compares...