Abstract
| Original language | English |
|---|---|
| Place of Publication | Tilburg |
| Publisher | Finance |
| Number of pages | 45 |
| Volume | 2004-123 |
| Publication status | Published - 2004 |
Publication series
| Name | CentER Discussion Paper |
|---|---|
| Volume | 2004-123 |
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Keywords
- Corporate governance
- ownership structure
- co-determination
- mergers and acquisitions
- board of directors
Cite this
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Recent Developments in German Corporate Governance. / Goergen, M.; Manjon, M.C.; Renneboog, L.D.R.
Tilburg : Finance, 2004. (CentER Discussion Paper; Vol. 2004-123).Research output: Working paper › Discussion paper › Other research output
TY - UNPB
T1 - Recent Developments in German Corporate Governance
AU - Goergen, M.
AU - Manjon, M.C.
AU - Renneboog, L.D.R.
N1 - Pagination: 45
PY - 2004
Y1 - 2004
N2 - 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.
AB - 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.
KW - Corporate governance
KW - ownership structure
KW - co-determination
KW - mergers and acquisitions
KW - board of directors
M3 - Discussion paper
VL - 2004-123
T3 - CentER Discussion Paper
BT - Recent Developments in German Corporate Governance
PB - Finance
CY - Tilburg
ER -