This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the...

Sebastian Burchhardt develops a game theory model that analyzes the possible behavioral patterns of employees during MA processes and the impact of such patterns on the success of the transaction itself. The result is the development of a principal-multi-agent model that allows for endogenous...

Shareholder Value-Maximierung -- Gründe und Formen der Delegation von Entscheidungskompetenzen -- Bereichssteuerung mittels finanzieller Anreizsysteme -- Bedingungen zur Erreichung von Zielkonsistenz -- Implikationen für das Rechnungswesen.

Employees in Swedish firms have the legal right to be represented on the company board. However, in a considerable share of Swedish listed firms, this option is not exercised. This paper asks why that is the case. We use a simple framework, based on rational choice by individual employees. Our...