Corporate Governance in Germany: An Empirical Investigation ; with 7 Figures and 50 Tables

Corporate governance is an important issue on the research agenda of financial economists. Using a new and unique data set of German corporations this book examines three topics that are crucial to a better understanding of corporate governance: (a) the frequency, causes, and consequences of control transfers, (b) the determinants of acquisition and failure, and (c) the role of corporate governance and market discipline for productivity growth. This book points out methodological drawbacks of previous empirical studies and provides suggestions on how to avoid these problems in research practice. "The focus of the publications is to present current research findings from ZEW projects and the results of major scientific conferences. Both theoretical and empirical studies are included, and various aspects covered in the fields of international finance, labour markets, human resources, social policy, industrial economics, corporate taxation, public finance, and environmental and resource economics."--BOOK JACKET This chapter is a revised and adapted version of Börsch-Supan and Köke (2002).