In dieser Studie wurde untersucht, welchen Einfluß die Veränderungen der Rahmenbedingungen für die industrielle Fertigung in den 1990-er Jahren auf die Struktur des verarbeitenden Gewerbes und die strategische Ausrichtung der Unternehmen hatten. Insbesondere sollten Wirkungsbeziehungen...

Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...

A widely recognized paper by Colin Mayer (1988) has led to a profound revision of academicthinking about financing patterns of corporations in different countries. Using flow-of-funds datainstead of balance sheet data, Mayer and others who followed his lead found that internalfinancing is the...

...The present paper leaves this concern with banks andmarkets aside and instead proposes to focus attention on the industrial corporation as a financial institution in its own right.

Although there has been an intensive debate on the relative merits of different sys-tems of corporate governance, empirical evidence on the link between corporate governance andfirm performance almost exclusively refers to the market-oriented Anglo-Saxon system. This papertherefore investigates...

This paper uses firm-level data on 162 large Hungarian enterprises to analyse the relationship betweenownership structure and corporate performance in 1998 and 1999. Cross-sectional regressions are runfor each of these years using the return on assets (ROA) as the measure of performance. Both...