LEADER 04677oam 22010574 450 001 9910788233303321 005 20230721045623.0 010 $a1-4623-4469-0 010 $a1-4527-0468-6 010 $a9786612841309 010 $a1-4518-7037-X 010 $a1-282-84130-0 035 $a(CKB)3170000000055077 035 $a(EBL)1607959 035 $a(SSID)ssj0000944130 035 $a(PQKBManifestationID)11503322 035 $a(PQKBTitleCode)TC0000944130 035 $a(PQKBWorkID)10982383 035 $a(PQKB)10631510 035 $a(OCoLC)466441313 035 $a(MiAaPQ)EBC1607959 035 $a(IMF)WPIEE2008179 035 $a(EXLCZ)993170000000055077 100 $a20020129d2008 uf 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aGermany?s Corporate Governance Reforms : $eHas the System Become Flexible Enough? /$fJürgen Odenius 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (21 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1490-3 327 $aContents; 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; References 330 3 $aThis article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important elements of the shareholder system. Instead of taking a view on the superiority of either system, this article raises the important question whether these reforms created sufficient flexibility for the market to optimize its corporate governance structure within well established social and legal norms. It concludes that there is scope for enhancing flexibility in three core areas, relating to (i) internal control mechanisms, especially the flexibility of board structures; (ii) self-dealing; and (iii) external control, particularly take-over activity. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/179 606 $aCorporate governance$zGermany 606 $aCorporate governance 606 $aFinance: General$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aCorporate Governance$2imf 606 $aCorporate Finance and Governance: Government Policy and Regulation$2imf 606 $aLabor Economics: General$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aCorporate governance$2imf 606 $arole & responsibilities of boards & directors$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aLabor$2imf 606 $aInternal controls$2imf 606 $aLegal support in revenue administration$2imf 606 $aCapital markets$2imf 606 $aLabor economics$2imf 606 $aRevenue$2imf 606 $aCapital market$2imf 607 $aGermany$2imf 615 0$aCorporate governance 615 0$aCorporate governance. 615 7$aFinance: General 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aCorporate Governance 615 7$aCorporate Finance and Governance: Government Policy and Regulation 615 7$aLabor Economics: General 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aCorporate governance 615 7$arole & responsibilities of boards & directors 615 7$aLabour 615 7$aincome economics 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aLabor 615 7$aInternal controls 615 7$aLegal support in revenue administration 615 7$aCapital markets 615 7$aLabor economics 615 7$aRevenue 615 7$aCapital market 676 $a658.4 700 $aOdenius$b Jürgen$01485172 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788233303321 996 $aGermany?s Corporate Governance Reforms$93704162 997 $aUNINA