@techreport{f1cb70de06384cfcbaf6bb5ecf874e52,
title = "Recent Developments in German Corporate Governance",
abstract = "We contrast the features of the German corporate governance system with those of other systems and discuss the recent regulatory initiatives.For example, the rules on insider trading and anti-trust have been strengthened.The Restructuring Act has been revised to prevent minority shareholders from stalling corporate restructuring via legal actions.The Takeover Act now prescribes a tender offer as soon as an investor acquires at least 30\% of a firm's equity.However, the Act also allows anti-takeover devices.Despite the recent, substantial changes, we conclude that the main characteristics of the German system are still in place.",
keywords = "Corporate governance, ownership structure, co-determination, mergers and acquisitions, board of directors",
author = "M. Goergen and M.C. Manjon and L.D.R. Renneboog",
note = "Pagination: 45",
year = "2004",
language = "English",
volume = "2004-123",
series = "CentER Discussion Paper",
publisher = "Finance",
type = "WorkingPaper",
institution = "Finance",
}
