Many researchers claim that the German universal banks’ great influence in corporate control is harmful, since these banks are often both debt holders and equity owners of the firm. However, in this paper I argue differently. Analyzing the banks’ role as investors, I find that, due to...

In den letzten Jahren haben öffentlich-rechtliche Kreditinstitute zunehmend Kapitalbeteiligungsgesellschaften gegründet. Wie sind diese unter Corporate Governance Gesichtspunkten zu beurteilen? Gibt es Kontrolldefizite bei den Beteiligungsgesellschaften? Können dort anreizkompatible...

The process of systemic change in Poland has brought about major changes in corporate governance. The enforcement of new laws has created a culture of compliance that has shaped capital groups and the management ethos of the groups, spurring them to improve. It is argued that the Polish versions...

The paper evaluates the feasibility of employing mainstream models of corporate governance in the context of transition economies, using Russia as an example. The issue of corporate governance is considered as an element of an institutional crisis characteristic of post-communist countries. It...

During the last ten years, Estonia has made strong efforts in terms of the transition to a market economy. This is particularly true with respect to the soundness and transparency of monetary and fiscal policies, the privatisation of former state-owned enterprises, the development of the...

This paper considers the extent to which inadequate corporate governance was a contributory factor to the financial market crash. It examines the experience of selected failed banks, with emphasis on the corporate governance structure in place at each firm, and the background and expertise of...

The purpose of this paper is to examine the impact of an alternative ownership/control structure of corporate governance on firm performance. Specifically, we investigated the governance system of government linked companied (GLCs) in Malaysia. In this paper, we examine governance mechanism and...

The division between ownership and management and the existence of minority shareholders have led to the need for control systems which allow for the convergence of shareholders and managers' objectives. The disclosure of information for shareholders and corporate governance stand out among...

The study of the effectiveness of boards of directors is a tremendously interesting area of investigation, heightened by the many financial scandals of the recent past. Research efforts have suffered from several deficiencies like the inconsistency of many of the results achieved (Daily, Dalton...

The aim of this paper is to analyze standards of good practice relating to operational risk management. Huge losses incurred by renowned companies (e.g. Barings Bank, Enron) as well as local authorities (e.g. Orange County) as a result of errors in operational risk management caused growing...