Journal Article

Universal banking, control rights, and corporate finance in Germany

Abstract: This article describes the most important corporate governance practices in contemporary Germany. These practices include a prominent role for universal banks, other large financial and non-financial firms, and employees through a system known as codetermination. While some similarities exist, many features of corporate governance in Germany differ greatly from those found in the United States. This article provides historical background and a review of the existing empirical evidence on these topics.

Keywords: Germany; Corporations - Finance;

Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Review

Publication Date: 1998

Issue: Jul

Pages: 19-42

Order Number: v. 80 no. 4