04973oam 22011774 450 991096111990332120250426110111.0978661284130997814623446971462344690978145270468514527046869781451870374145187037X97812828413071282841300(CKB)3170000000055077(EBL)1607959(SSID)ssj0000944130(PQKBManifestationID)11503322(PQKBTitleCode)TC0000944130(PQKBWorkID)10982383(PQKB)10631510(OCoLC)466441313(IMF)WPIEE2008179(MiAaPQ)EBC1607959(IMF)WPIEA2008179WPIEA2008179(EXLCZ)99317000000005507720020129d2008 uf 0engurcnu||||||||txtccrGermany’s Corporate Governance Reforms : Has the System Become Flexible Enough? /Jürgen Odenius1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (21 p.)IMF Working PapersIMF working paper ;WP/08/179Description based upon print version of record.9781451914900 1451914903 Contents; I. Introduction; II. Germany's Corporate Governance System; A. The Hallmarks of the System; Figure; 1. Equity Market Characteristics; B. Corporate Governance Reform: An Overview; III. The Effectiveness of Internal Control Mechanisms; Box; 1. The Societas Europea-A Step Towards More Flexible Corporate Governance?; IV. Conflict of Interest: Self-Dealing; V. External Control Mechanisms: The Market for Corporate Control; VI. Conclusions; ReferencesThis article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important elements of the shareholder system. Instead of taking a view on the superiority of either system, this article raises the important question whether these reforms created sufficient flexibility for the market to optimize its corporate governance structure within well established social and legal norms. It concludes that there is scope for enhancing flexibility in three core areas, relating to (i) internal control mechanisms, especially the flexibility of board structures; (ii) self-dealing; and (iii) external control, particularly take-over activity.IMF Working Papers; Working Paper ;No. 2008/179Corporate governanceGermanyCorporate governanceCapital marketimfCapital marketsimfCorporate Finance and Governance: Government Policy and RegulationimfCorporate GovernanceimfCorporate governanceimfFinanceimfFinance: GeneralimfGeneral Financial Markets: General (includes Measurement and Data)imfIncome economicsimfInternal controlsimfLabor economicsimfLabor Economics: GeneralimfLaborimfLabourimfLegal support in revenue administrationimfMacroeconomicsimfPublic finance & taxationimfPublic FinanceimfRevenueimfRole & responsibilities of boards & directorsimfTaxation, Subsidies, and Revenue: GeneralimfGermanyimfCorporate governanceCorporate governance.Capital marketCapital marketsCorporate Finance and Governance: Government Policy and RegulationCorporate GovernanceCorporate governanceFinanceFinance: GeneralGeneral Financial Markets: General (includes Measurement and Data)Income economicsInternal controlsLabor economicsLabor Economics: GeneralLaborLabourLegal support in revenue administrationMacroeconomicsPublic finance & taxationPublic FinanceRevenueRole & responsibilities of boards & directorsTaxation, Subsidies, and Revenue: General658.4Odenius Jürgen1815913DcWaIMFBOOK9910961119903321Germany’s Corporate Governance Reforms4371534UNINA