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Titlebook: Global Differences in Corporate Governance Systems; Theory and Implicati Markus Berndt Book 2002 Deutscher Universit?ts-Verlag GmbH, Wiesba

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發(fā)表于 2025-3-21 17:10:23 | 只看該作者 |倒序瀏覽 |閱讀模式
書目名稱Global Differences in Corporate Governance Systems
副標(biāo)題Theory and Implicati
編輯Markus Berndt
視頻videohttp://file.papertrans.cn/387/386184/386184.mp4
叢書名稱?konomische Analyse des Rechts
圖書封面Titlebook: Global Differences in Corporate Governance Systems; Theory and Implicati Markus Berndt Book 2002 Deutscher Universit?ts-Verlag GmbH, Wiesba
描述Over the past few decades two different corporate governance systems have evolved. Countries with an "insider system" exhibit a high level of ownership concentration, illiquid capital markets, and a high level of crossholdings. Countries with an "outsider system" are characterized by widely dispersed ownership, liquid stock markets, a low level of inter-corporate crossholdings, and an active market for corporate control...Markus Berndt explains the observable differences by elaborating on the influence of network effects on corporate governance systems. He develops a coherent theoretical framework pulling together existing agency theories and providing new theoretical foundations wherever there is a gap. The presented theory gives answers to the following questions: How does the insider system of corporate governance function despite its inefficiencies? Why do we not see any significant convergence of ownership structures and regulations? What are the legislative requirements in the different systems? How does globalization affect the effectiveness of the institutional arrangements? Which system should be chosen by developing countries?..
出版日期Book 2002
關(guān)鍵詞AG; Corporate Governance; Corporate Law; Financial Systems; Institutional Economics; Law and Economics; Ne
版次1
doihttps://doi.org/10.1007/978-3-322-81431-9
isbn_softcover978-3-8244-7694-7
isbn_ebook978-3-322-81431-9
copyrightDeutscher Universit?ts-Verlag GmbH, Wiesbaden 2002
The information of publication is updating

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沙發(fā)
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板凳
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Carsten Baumgarth,Dirk-Mario Boltzts are not specific to the dichotomy of the insider system on one side and the outsider system on the other side, as it has been discussed throughout the previous chapters. Hence, coordination benefits are dealt with separately in this chapter.
地板
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f ownership concentration, illiquid capital markets, and a high level of crossholdings. Countries with an "outsider system" are characterized by widely dispersed ownership, liquid stock markets, a low level of inter-corporate crossholdings, and an active market for corporate control...Markus Berndt
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發(fā)表于 2025-3-22 19:30:01 | 只看該作者
https://doi.org/10.1007/978-3-642-66011-5 for the foregone private benefits that come with the sale. This compensation takes the form of a voting premium that is paid when acquiring control blocks. Empirical research has quantified this premium to range from 5.4% in the US to 82% in Italy. An overview of these empirical finding is given by Macey (1998, p. 910).
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https://doi.org/10.1007/978-1-349-20948-4ion between the party (the agents) that takes some action on behalf of outsiders (principals), combined with the fact that results are not perfectly correlated with efforts of the insiders. Depending on the timing of contracting, action of the agent, and random influences of nature, one distinguishes between . or . and ., as well as ..
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Introduction,ional foundations for well-functioning equity markets: .. The most cited corporate governance principles are laid out by the OECD (1999). The World Bank concentrates on implementation strategies.. Emphasis on regulatory aspects is put by the IOSCO (1998).
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