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In the literature the issue of the protection of stakeholder interests (of employees in particular) is usually considered in a static context: how should the institutions of corporate governance be shaped having regard to already existing firms, conforming, in particular, to some subjective...
Persistent link: https://www.econbiz.de/10013069220
Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...
Persistent link: https://www.econbiz.de/10003923223
According to Mark Roe, politics influences corporate governance. The separation between control and ownership is only possible when there is a low “degree of social democracy”. By contrast, systems, characterised by strong employees’ rights, are necessarily balanced by strong and...
Persistent link: https://www.econbiz.de/10014064662
This paper discusses whether, in which respects, and to what extent the corporate governancesystems of Germany, the United Kingdom and France have already converged in the course ofEuropean economic integration, or are likely to converge in the foreseeable future. Wepresent, and attempt to...
Persistent link: https://www.econbiz.de/10005840358
The current crisis has been seen as the result of a “few bad apples”. The paper argues that the crisis is systemic and based on fallacies and misconceptions in the design and function of the economic – corporate system. Organizational and economic theories are based on hypotheses that lead...
Persistent link: https://www.econbiz.de/10015218650
Aus dem weiten Spektrum ökonomisch relevanter Fragen, die die europäische Integration und das Gesellschaftsrecht verbinden, soll hier diejenige herausgegriffen werden, ob sich die nationalen Corporate-Governance-Systeme in den großen europäischen Volkswirtschaften Deutschlands, Frankreichs...
Persistent link: https://www.econbiz.de/10010316249
In this paper, we examine the inconclusive debate on regulatory competition in Europe. We demonstrate that the recent expansion in the EU company law has created archetypal underpinning for formation of regulatory competition: the ground-breaking triptych of the ECJ on Centros, Überseering, and...
Persistent link: https://www.econbiz.de/10010328387
Corporations can be understood as solutions to team production problems, rather than as property. Incorporation involves creation of a new legal entity in which control rights are separated from residual claim rights. The corporation itself, not the shareholders nor any other corporate...
Persistent link: https://www.econbiz.de/10005538907
This report evaluates the corporate governance practices of Colombian SOEs against the OECD Guidelines on Corporate Governance of State-Owned Enterprises (SOEs). The assessment was prepared based on information provided by the Colombian authorities, an analysis of the available literature and...
Persistent link: https://www.econbiz.de/10010903583
In this paper, using a unique dataset of joint-stock companies, we empirically examine the determinants of the choice and size of the collective executive board, a core element of the multi-tier board system of Russian firms. Our empirical evidence strongly suggests that the need of company...
Persistent link: https://www.econbiz.de/10009371109