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...

Some of the most widely expressed myths about the German financial system are concerned with the close ties and intensive interaction between banks and firms, often described as Hausbank relationships. Links between banks and firms include direct shareholdings, board representation, and proxy...