Corporate Governance, Regulation and Financial Markets. Germany's Pathway to a Market-Based System?

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Publisher : GRIN Verlag
ISBN 13 : 3668415846
Total Pages : 46 pages
Book Rating : 4.6/5 (684 download)

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Book Synopsis Corporate Governance, Regulation and Financial Markets. Germany's Pathway to a Market-Based System? by : Alexander Behne

Download or read book Corporate Governance, Regulation and Financial Markets. Germany's Pathway to a Market-Based System? written by Alexander Behne and published by GRIN Verlag. This book was released on 2017-03-14 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2015 in the subject Economics - Finance, grade: 1,3, University of Leipzig (Wirtschaftspolitik), course: Development of Financial Markets and Institutions, language: English, abstract: Few areas of business economics are discussed in such a controversial manner as different corporate governance systems. In a globalized age in which the capital markets of industrialized countries have a large operating range and a growing degree of internationalization, the design and regulation activities in this field have become increasingly important. This has triggered a "competition of institutions". In the current academic discussion, different corporate governance paradigms are being examined, to figure out, which could be the most successful in a market economy in order to attract investors. It considers what system of management of a capitalled company is the most appropriate - in order to provide a location or rather a country - a competitive advantage in competition for global players. It is assumed that the type of the corporate governance system influences the company’s success or even more on the entire national economy. As reference points, the German and the US model are often being used. Since they are opposed to one another in their paradigmatic and thus embody the exemplary corporate governance system. In addition, since the Cold War and beyond, the US has been a hegemon and has always had a great influence on the economic and financial system worldwide. Germany is regarded as the political and economic core of the most important partner of the USA, the European Union. Both are regarded as a highly developed economic system; their further development will attract attention beyond their national borders. Although, the aim of corporate governance is identical, the institutional design and the underlying philosophies differ. As of a 1980 ́s it appears that the German bank-based system cannot meet the needs of the swift progress of financial markets. From the 1990s onwards, especially in the case of some serious legal measures in Germany, a move towards capital market orientation has been taking place. Since the prediction of a system convergence has been considered critical - because they are embedded in a corresponding cultural and socioeconomic system, which makes the transferability of the respective economic paradigms doubtful - this paper tries to examine if these legal regulations triggered a change in the German financial system.

The German Financial System

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Publisher : Oxford University Press on Demand
ISBN 13 : 0199253161
Total Pages : 550 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis The German Financial System by : Jan Pieter Krahmen (editor)

Download or read book The German Financial System written by Jan Pieter Krahmen (editor) and published by Oxford University Press on Demand. This book was released on 2004 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a team of scholars, predominantly from the Centre for Financial Studies in Frankfurt, this volume provides a descriptive survey of the present state of the German financial system and a new analytical framework to explain its workings.

A History of Corporate Governance around the World

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Publisher : University of Chicago Press
ISBN 13 : 0226536831
Total Pages : 700 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis A History of Corporate Governance around the World by : Randall K. Morck

Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

The Globalization of Corporate Governance

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Publisher : Routledge
ISBN 13 : 1317030079
Total Pages : 458 pages
Book Rating : 4.3/5 (17 download)

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Book Synopsis The Globalization of Corporate Governance by : Alan Dignam

Download or read book The Globalization of Corporate Governance written by Alan Dignam and published by Routledge. This book was released on 2016-03-09 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of economic globalization, as product and capital markets have become increasingly integrated since WWII, has placed huge, and it is argued by some, irresistible pressures on the world's 'insider' stakeholder oriented corporate governance systems. Insider corporate governance systems in countries such as Germany, so the argument goes, should converge or be transformed by global product and capital market pressures to the 'superior' shareholder oriented 'outsider' corporate governance model prevalent in the UK and the US. What these pressures from globalization are, how they manifest themselves, whether they are likely to cause such a convergence/transformation and whether these pressures will continue, lie at the heart of the exploration in this volume. The Globalization of Corporate Governance provides a detailed analysis of the evolution of the key corporate governance systems in the UK, the US and Germany from the perspective of the development of economic globalization. As such it is a valuable resource for those interested in how economic and legal reforms interact to produce change within corporate governance systems.

Varieties of Capitalism

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Publisher : Oxford University Press
ISBN 13 : 0199247749
Total Pages : 557 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Varieties of Capitalism by : Peter A. Hall

Download or read book Varieties of Capitalism written by Peter A. Hall and published by Oxford University Press. This book was released on 2001 with total page 557 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

Public Law and Private Power

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Publisher : Cornell University Press
ISBN 13 : 9780801449048
Total Pages : 312 pages
Book Rating : 4.4/5 (49 download)

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Book Synopsis Public Law and Private Power by : John W. Cioffi

Download or read book Public Law and Private Power written by John W. Cioffi and published by Cornell University Press. This book was released on 2010 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cioffi argues that highly politicized reform of corporate governance law has reshaped power relations within the public corporation in favor of financial interests, contributed to the profound crises of capitalism, and eroded its political foundations.

Corporate Governance and Globalization

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781781959572
Total Pages : 396 pages
Book Rating : 4.9/5 (595 download)

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Book Synopsis Corporate Governance and Globalization by : Stephen S. Cohen

Download or read book Corporate Governance and Globalization written by Stephen S. Cohen and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The book links studies of corporate governance with surveys of efficiencies and failures in international financial markets, as well as examining aspects of corporate governance systems that have special significance for the management of economic policies as globalization continues. The contributors advocate increased international cooperation to promote more structural complementarities in the world economy."--BOOK JACKET.

The Globalization of Corporate Governance

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Publisher : Ashgate Publishing, Ltd.
ISBN 13 : 1409496651
Total Pages : 513 pages
Book Rating : 4.4/5 (94 download)

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Book Synopsis The Globalization of Corporate Governance by : Mr Alan Dignam

Download or read book The Globalization of Corporate Governance written by Mr Alan Dignam and published by Ashgate Publishing, Ltd.. This book was released on 2013-02-28 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of economic globalization, as product and capital markets have become increasingly integrated since WWII, has placed huge, and it is argued by some, irresistible pressures on the world's 'insider' stakeholder oriented corporate governance systems. Insider corporate governance systems in countries such as Germany, so the argument goes, should converge or be transformed by global product and capital market pressures to the 'superior' shareholder oriented 'outsider' corporate governance model prevalent in the UK and the US. What these pressures from globalization are, how they manifest themselves, whether they are likely to cause such a convergence/transformation and whether these pressures will continue, lie at the heart of the exploration in this volume. The Globalization of Corporate Governance provides a detailed analysis of the evolution of the key corporate governance systems in the UK, the US and Germany from the perspective of the development of economic globalization. As such it is a valuable resource for those interested in how economic and legal reforms interact to produce change within corporate governance systems.

Beyond Continuity

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Publisher : Oxford University Press
ISBN 13 : 0191566772
Total Pages : 290 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Beyond Continuity by : Wolfgang Streeck

Download or read book Beyond Continuity written by Wolfgang Streeck and published by Oxford University Press. This book was released on 2005-03-10 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debates surrounding institutional change have become increasingly central to Political Science, Management Studies, and Sociology, opposing the role of globalization in bringing about a convergence of national economies and institutions on one model to theories about 'Varieties of Capitalism'. This book brings together a distinguished set of contributors from a variety of disciplines to examine current theories of institutional change. The chapters highlight the limitations of these theories, finding them lacking in the analytic tools necessary to identify the changes occurring at a national level, and therefore tend to explain many changes and innovation as simply another version of previous situations. Instead a model emerges of contemporary political economies developing in incremental but cumulatively transformative processes. The contributors show that a wide, but not infinite, variety of models of institutional change exist which can meaningfully distinguished and analytically compared. They offer an empirically grounded typology of modes of institutional change that offer important insights on mechanisms of social and political stability, and evolution generally. Beyond Continuity provides a more complex and fundamental understanding of institutional change, and will be important reading for academics, researchers, and advanced students of Political Science, Management Studies, Sociology, and Economics.

Finance Capitalism Unveiled

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Publisher : University of Michigan Press
ISBN 13 : 0472027328
Total Pages : 328 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Finance Capitalism Unveiled by : Richard Edward Deeg

Download or read book Finance Capitalism Unveiled written by Richard Edward Deeg and published by University of Michigan Press. This book was released on 2010-08-10 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: If we are moving toward one global financial market, will all national financial systems that determine how businesses raise money look the same? Richard Deeg argues that, despite financial market integration and considerable harmonization in the regulation of financial markets, the traditional structure and economic functions of national financial systems are not inevitably undermined. Using the case of Germany--a country with a strong and distinctive financial sector that is at the center of the pressures of economic integration--the author shows how the unique aspects of the German financial sector and its relationship to the German economy have persisted notwithstanding powerful pressures to change. Posing the German model of coordinated capitalism in which banks play an important role in shaping both firm behavior and the possibilities for state intervention in the economy against the liberal model of the United States and Britain in which the securities markets play a much greater role than banks, Deeg shows how the German model has survived competitive pressures in the international economic system that have pushed Germany--and other countries--toward the liberal model. This book will appeal to political scientists and economists interested in international financial markets, globalization, and the comparative study of domestic financial markets, as well as in German politics and the German economy. Richard Deeg is Assistant Professor of Political Science, Temple University.

Comparative Political Economy

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Publisher : Bloomsbury Publishing
ISBN 13 : 1352011263
Total Pages : 367 pages
Book Rating : 4.3/5 (52 download)

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Book Synopsis Comparative Political Economy by : Ben Clift

Download or read book Comparative Political Economy written by Ben Clift and published by Bloomsbury Publishing. This book was released on 2021-02-02 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about how 21st-century capitalism really works. Modern economics strips away social, historical, and political context from analysis of 'the economic', but the economy is far too important to leave exclusively to the economists. Comparative Political Economy (CPE) is a much broader, richer intellectual undertaking which 're-embeds' the analysis of the economic within the social and political realm. This is at the heart of how to think like a political economist. This text maps the terrain and evolution of CPE, providing the analytical tools to explore the many variants of capitalism, unearthing their roots in competing visions of the desirable distribution of the fruits of growth. Connecting CPE systematically to the subfield of International Political Economy (IPE), the book explains how these visions generate ongoing political struggles over how to regulate and manage capitalism. This is the perfect introduction to the field for all students of CPE and IPE. New to this Edition: - Fully revised and updated throughout to take into account the latest empirical and theoretical developments in this fast-moving field - A brand New chapter on the political economy of inequality, populism, Trump & Brexit - New expanded 'how to use this book' aimed at student readers - More coverage of the types of economies covered, to move from an exclusively Western focus to cover developing and emerging global economies

Imbalance

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Publisher : Routledge
ISBN 13 : 1000370208
Total Pages : 279 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Imbalance by : Tobias Schulze-Cleven

Download or read book Imbalance written by Tobias Schulze-Cleven and published by Routledge. This book was released on 2021-03-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Germany is a central case for research on comparative political economy, which has inspired theorizing on national differences and historical trajectories. This book assesses Germany’s political economy after the end of the "social democratic" 20th century to rethink its dominant properties and create new opportunities for using the country as a powerful lens into the evolution of democratic capitalism. Documenting large-scale changes and new tensions in the welfare state, company strategies, interest intermediation, and macroeconomic governance, the volume makes the case for analysing contemporary Germany through the politics of imbalance rather than the long-standing paradigm of institutional stability. This conceptual reorientation around inequalities and disparities provides much-needed traction for clarifying the causal dynamics that govern ongoing processes of institutional recomposition. Delving into the politics of imbalance, the volume explicates the systemic properties of capitalism, multivalent policy feedback, and the organizational foundations of creative adjustment as key vantage points for understanding new forms of distributional conflict within and beyond Germany. The chapters in this book were originally published as a special issue of German Politics.

Corporate Governance in a Changing Economic and Political Environment

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Publisher : Springer
ISBN 13 : 0230286194
Total Pages : 299 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Corporate Governance in a Changing Economic and Political Environment by : M. Federowicz

Download or read book Corporate Governance in a Changing Economic and Political Environment written by M. Federowicz and published by Springer. This book was released on 2003-12-19 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection provides exceptional descriptive and analytical insights into changes in corporate governance settings in ten Eastern and Western European countries. It demonstrates that there exist different varieties of capitalisms and paths to transformation of economic institutions. In addition, it offers detailed discussions about national cases as well as the overall European Union effects. This book should be of great interest to scholars and students of comparative national systems, corporate governance and European studies.

The Political Determinants of Corporate Governance in China

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Publisher : Routledge
ISBN 13 : 1136338365
Total Pages : 287 pages
Book Rating : 4.1/5 (363 download)

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Book Synopsis The Political Determinants of Corporate Governance in China by : Chenxia Shi

Download or read book The Political Determinants of Corporate Governance in China written by Chenxia Shi and published by Routledge. This book was released on 2012-03-15 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the key factors shaping corporate governance in China and presents a sophisticated study of corporate governance in China from a comparative and historical perspective. Drawing on extensive corporate governance literature, this book articulates why path dependence theory is the most effective framework for interpreting the development path of Chinese corporate governance. Chenxia Shi reviews the historical role of government in commercial development and regulation in dynastic China and in early corporate law-making, followed by an account of China’s legal and economic development over the last three decades. This historical inquiry identifies government control as the key feature of economic and market regulation in China. In particular, this book canvasses the evolution of governance of State-Owned Enterprises and listed companies, major corporate governance problems, regulatory challenges posed by China’s increasing participation in economic globalization, and enforcement difficulties particularly in relation to investor protection, directors’ duties and accountability. Ultimately, Political Determinants of Corporate Governance in China demonstrates that corporate governance in China is largely determined by political imperatives and those political imperatives have been shaped and re-shaped in a historical process.

An International Comparison of Corporate Governance Models

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Publisher : Gregory Maassen
ISBN 13 : 9090125914
Total Pages : 228 pages
Book Rating : 4.0/5 (91 download)

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Book Synopsis An International Comparison of Corporate Governance Models by : Gregory Francesco Maassen

Download or read book An International Comparison of Corporate Governance Models written by Gregory Francesco Maassen and published by Gregory Maassen. This book was released on 1999 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The German Financial System

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Publisher : OUP Oxford
ISBN 13 : 0191531030
Total Pages : 550 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis The German Financial System by : Jan P. Krahnen

Download or read book The German Financial System written by Jan P. Krahnen and published by OUP Oxford. This book was released on 2004-03-25 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is both a reference book on Germany's financial system and a contribution to the economic debate about its status at the beginning of the twenty-first century. In giving a comprehensive account of the many facets of the system, it covers corporate governance, relationship lending, stock market development, investor protection, the venture capital industry, and the accounting system, and reports on monetary transmission and the credit channel, regulation and banking competition, the insurance and investment industry, and mergers and acquisitions. Special chapters at the beginning and at the end of the book adopt the financial system perspective, analysing the mutual fit of different features of the financial system; and each of the fifteen chapters addresses particular myths that surround it. The book is invaluable for those who want to understand the German economy and its financial system, promising not only a compilation of facts and statistics on Germany's financial markets and institutions, but also an analysis of its current structure and the determinants of its future development.

Explaining Financial Scandals

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Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443864684
Total Pages : 325 pages
Book Rating : 4.4/5 (438 download)

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Book Synopsis Explaining Financial Scandals by : Vincenzo Bavoso

Download or read book Explaining Financial Scandals written by Vincenzo Bavoso and published by Cambridge Scholars Publishing. This book was released on 2014-07-24 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosion of the global financial crisis in 2007–08 reignited the urgency to reflect on the origins and causes of financial collapses. As the events in the above period triggered an economic meltdown that is still ongoing, comparisons with the Great Crash of 1929 started to abound. In particular, the externalities that a broad spectrum of societal groups had to bear as a consequence of various banking failures highlighted the necessity of a more inclusive and balanced regulation of firms whose activities impact on a wide range of stakeholders. The book is centred on the proposal of a paradigm, the “enlightened sovereign control”, that provides a theoretical, institutional and substantive framework as a response to the legal issues analysed in the book. These stem primarily from the analysis of two sequences of events (the 2001–03 wave of “accounting frauds” and the 2007–08 global crisis) which represent the background upon which modern financial scandals are explained. This is done by highlighting a number of common denominators emerging from the case studies (Enron and Parmalat, Northern Rock and Lehman Brothers) which all led to financial instability and scandals and illustrated the legal issues identified in the book. The research is grounded on the initial recognition of theoretical themes in the field of corporate and financial law, which eventually link with the more practical events examined. Through this multifaceted approach, the book contends that the occurrence of financial crises during the last decade is essentially rooted in two main problems: a corporate governance one, represented by the lack of effective control systems within large public firms; and a corporate finance one identified with the excesses of financial innovation and related abuses of capital market finance. Research conducted in this book ultimately seeks to contribute to current debates in the areas of corporate and financial law, through the proposals of the “enlightened sovereign control” paradigm.