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...

This paper studies how governance practices within and across national boundaries – specifically employee representation on the board – impact firm performance. Based on the property rights view of the firm, we propose that the relationship between employee representation on the board and...