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The positive economics of labor market rigidities and investor protection

Fehn, Rainer; Meier, Carsten-Patrick - 2001

This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...

Persistent link: https://www.econbiz.de/10010316080

Internationale Rechnungslegungsnormen und Neue Institutionenökonomik

Wüstemann, Jens - 1999

eine komparative Rechnungslegungstheorie. Eine Besinnung auf die ökonomische Theorie ist – auch ausgelöst durch die … Prägung durch die ökonomische Theorie – und nicht vornehmlich durch die Anwender – erhielt.3 Es ist das Ziel des Aufsatzes …, einen Beitrag zu einer institutionenökonomischen Theorie der Rechnungslegung zum Zweck der Bestimmung von …

Persistent link: https://www.econbiz.de/10010316236

The positive economics of corporatism and corporate governance

Fehn, Rainer; Meier, Carsten-Patrick - 2000

This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Two politicoeconomic equilibria arise from our model, one with little protection of insiders on capital and labor markets, and another one with...

Persistent link: https://www.econbiz.de/10010265445

Derivatives and Default Risk

Scholz, Sebastian - 2010

Upstream producers that possess market power, sell forwards with a lengthy duration to regional electricity companies (REC). As part of the liberalization of the electricity market, RECs have been privatized and exposed to a possible bankruptcy threat if spot prices have fallen below their...

Persistent link: https://www.econbiz.de/10010427577

How pervasive is corporate fraud?

Dyck, Alexander; Morse, Adair; Zingales, Luigi - 2023

We provide a lower-bound estimate of the undetected share of corporate fraud. To identify the hidden part of the "iceberg," we exploit Arthur Andersen's demise, which triggered added scrutiny on Arthur Andersen's former clients and thereby increased the detection likelihood of preexisting...

Persistent link: https://www.econbiz.de/10013531824

Private Contracting, Law and Finance

Acheson, Graeme; Campbell, Gareth; Turner, John D. - 2019

In the late nineteenth century Britain had almost no mandatory shareholder protections, but had very developed financial markets. We argue that private contracting between shareholders and corporations meant that the absence of statutory protections was immaterial. Using circa 500 articles of...

Persistent link: https://www.econbiz.de/10014284455

Three centuries of corporate governance in the UK

Turner, John D. - 2024

As articulated by Adam Smith, one of the central issues facing companies is that managers will not run the business in the interests of its owners and will misuse resources. This ultimately has a detrimental consequence for the wealth of the nation. This survey reviews the nature and evolution...

Persistent link: https://www.econbiz.de/10014449161

Corporate Governance gemäß BilMoG und SOX

Kubisch, Sabine - 2009

Durch vermehrt aufgetretene Finanzskandale und Zusammenbrüche namhafter Unternehmen wurde in den letzten Jahren das Vertrauen der Anleger nachhaltig gestört. Um die Glaubwürdigkeit in die veröffentlichten Finanzinformationen und in die Sicherheit der unternehmerischen Überwachungsprozesse...

Persistent link: https://www.econbiz.de/10010309473

How (not) to pay non-executive directors

Dilger, Alexander - 2012

Performance pay, at least as usually understand, is no good idea for non-executive directors. They have to supervise and control or in some situations even to fire and replace the executive managers. This means that their performance as supervisors is totally different from the performance of...

Persistent link: https://www.econbiz.de/10010310650

Angleichung der Unternehmensverfassung in Europa: ein Forschungsprogramm

Schmidt, Reinhard H.; Grohs, Stefanie - 1999

Aus dem weiten Spektrum ökonomisch relevanter Fragen, die die europäische Integration und das Gesellschaftsrecht verbinden, soll hier diejenige herausgegriffen werden, ob sich die nationalen Corporate-Governance-Systeme in den großen europäischen Volkswirtschaften Deutschlands, Frankreichs...

Persistent link: https://www.econbiz.de/10010316249