Corporate Governance Developments in Germany
HANDBOOK ON INTERNATIONAL CORPORATE GOVERNANCE: COUNTRY ANALYSES, Christine A. Mallin, ed., pp. 28-44, Edward Elgar, 2006
Posted: 24 Apr 2007
The article shows major corporate governance developments that took place in Germany in recent years. These developments do not constitute a fundamental change of the German corporate governance system. Rather, regulatory changes are primarily aimed at further improving the modalities of managing and supervising corporations within the German system of corporate governance in order to attenuate its downsides and to strengthen its vigorousnesses. In this regard, an accelerating pace as well as an increasing intensity of reforms are to be observed. The German Corporate Governance Code marks a milestone in this advancement because the establishment of this instrument adds a new regulatory level to the regulatory framework of corporate governance which has not been employed in Germany before.
Keywords: Co-determination, Control, Corporate governance, German Corporate Governance Code, Germany, Investor protection, Remuneration, Stock corporation, Transparency
JEL Classification: G30, G34, G38
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