We analyze the relationship between managerial ownership and company performance, testing the incentive and entrenchment hypothesis. Differently from previous literature, we focus on small and medium-sized private enterprises which constitute an important part of the German economy. We use a...

Der vorliegende Aufsatz untersucht den Einfluss von Aufsichtsratsvernetzungen auf die Entwicklung der Vorstandsbezüge von DAX-Unternehmen. Die kombinierte Anwendung von Methoden der sozialen Netzwerkanalyse und der Panelökonometrie erleichtert die Erfassung der Struktur der...

By means of a simple economic model, Shleifer and Vishny (1989) describe how top managers can entrench themselves by specific overinvestment. An extension of the model with additional investments exposes interdependencies that exceed the primary value of explanation. The extension of the model...

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

The German Commercial Code (HGB) allows banks to build visible reserves for general banking risks according to section 340g HGB. These GBR reserves may, in addition to their risk provisioning function, be used to enhance capital endowment, for internal financing, signaling or earnings management...

Die Zielstellung des Diskussionsbeitrages besteht darin, einen Überblick über die Eigentumsverhältnisse in der Landwirtschaft der Oblasts Nowosibirsk (Rußland) und Shitomir (Ukraine) zu erhalten, die Ergebnisse miteinander und mit aus anderen Oblasts vorliegenden Erkenntnissen zu...

В дискуссионном материале № 34 представляются ресультаты анкетирования по вопросам собственности и рентабельности в 100 крупных сельскохозяйственных пред-...

Im vorliegenden Discussion Paper 32 werden Untersuchungsergebnisse zu den Eigentumsverhältnissen und zur Rentabilität in 100 russischen Großbetrieben vorgelegt, die im Jahre 2000 mittels Befragungen im Gebiet Wolgograd gewonnen worden sind. Sie ordnen sich in die Forschungsarbeiten zur...

The question for the determinants and effects of the ownership concentration of firms is of central concern in the corporate governance literature. It has attracted significant attention in the last decades and has been frequently addressed by renown scholars in the corporate governance area....