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Ownership and Control of German Corporations.

Abstract:

In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate performance, little association between concentrations of ownership with managerial disciplining and only limited evidence that pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore similar to the UK and US. There are, however, marked differences in dynamic relations involving transfers of ownership. There is an a...

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Authors


Julian R Franks More by this author
Colin Mayer More by this author
Volume:
2898
Series:
Discussion Papers
Publication date:
2001
URN:
uuid:fa28e892-dc92-4884-99d8-f709789c7889
Local pid:
oai:economics.ouls.ox.ac.uk:11695
Language:
English

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