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Is the German system of corporate governance converging towards the Anglo-American model?

Goergen, Marc, Manjon, Miguel C. and Renneboog, Luc 2008. Is the German system of corporate governance converging towards the Anglo-American model? Journal of Management and Governance 12 (1) , pp. 37-71. 10.1007/s10997-007-9040-7

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Abstract

This paper analyses whether the German corporate governance is converging towards Anglo-American practices. We summarise the extant empirical evidence on the various governance mechanisms that economic theory suggests ensure efficiency and describe recent legal developments. We find no clear signs of convergence in form, i.e. the main distinctive features of the German system have remained largely unaltered. However, changes occurred over the last decade (specially in the legal framework) suggest a certain convergence in function, i.e. some governance mechanisms have effectively incorporated aims and/or goals generally associated with the Anglo-American model.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
J Political Science > JN Political institutions (Europe)
Uncontrolled Keywords: Convergence ; Corporate governance ; Germany
Publisher: Springer
ISSN: 1385-3457
Last Modified: 04 Jun 2017 03:16
URI: http://orca-mwe.cf.ac.uk/id/eprint/19051

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