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Banks and German Corporate Governance: On the Way to a Capital Market-Based System?
Hackethal, Andreas; Schmidt, Reinhard H.; Tyrell, Marcel - 2005
The German corporate governance system has long been cited as the standard example of an insider-controlled and stakeholder-oriented system. We argue that despite important reforms and substantial changes of individual elements of the German corporate governance system the main characteristics...
Persistent link: https://www.econbiz.de/10010316087
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Diversity in finance : an overview
Schmidt, Reinhard H. - 2019
This paper aspires to provide an overview of the issue of diversity of banking and financial systems and its …-country diversity and between-country diversity change over time, as one would be inclined to expect as a consequence of globalization … questions is that there is still today a surprisingly high level of diversity in finance. This raises the two questions …
Persistent link: https://www.econbiz.de/10012037098
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Diversity in finance : an overview
Schmidt, Reinhard H. - In: Vierteljahrshefte zur Wirtschaftsforschung 87 (2018) 4, pp. 9-23
This paper aspires to provide an overview of the issue of diversity of banking and financial systems and its …-country diversity and between-country diversity change over time, as one would be inclined to expect as a consequence of globalization … surprisingly high level of diversity in finance. This raises the two questions addressed in the second part of the paper: How can …
Persistent link: https://www.econbiz.de/10012153474
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On the change of the German financial system
Schmidt, Reinhard H. - 2019
The financial crisis of 2007-08 has stressed the importance of a sound financial system. Unlike other studies weighing the pros and cons of market versus bank-based systems, this paper investigates whether the main elements of the German financial system can be regarded as complementary and...
Persistent link: https://www.econbiz.de/10012037106
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Deutsche Bank and its strategy change : what it means for the German financial system
Schmidt, Reinhard H. - 2019
In early July 2019, Christian Sewing, the CEO of Deutsche Bank, proclaimed a fundamental shift of the bank's strategy after finally obtaining the approval of the Supervisory Board, which the management seems to have requested for quite some time. The essential point of the reorientation is a...
Persistent link: https://www.econbiz.de/10012038963
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Corporate governance of banks : a German alternative to the "standard model"
Kotz, Hans-Helmut; Schmidt, Reinhard H. - 2017
The paper provides an overview and an economic analysis of the development of the corporate governance of German banks since the 1950s, highlighting peculiarities - as seen from the meanwhile prevailing standard model perspective - of the German case. These peculiarities refer to the specific...
Persistent link: https://www.econbiz.de/10011716996
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Information Theory and the Role of Intermediaries in Corporate Governance
Schmidt, Reinhard H.; Tyrell, Marcel - 2004
We investigate the connection between corporate governance system configurations and the role of intermediaries in the respective systems from a informational perspective. Building on the economics of information we show that it is meaningful to distinguish between internalisation and...
Persistent link: https://www.econbiz.de/10010263309
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Corporate Governance in Germany: An Economic Perspective
Schmidt, Reinhard H. - 2003
A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...
Persistent link: https://www.econbiz.de/10010331088
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Path Dependence, Corporate Governance and Complementarity
Schmidt, Reinhard H.; Spindler, Gerald - 2000
In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...
Persistent link: https://www.econbiz.de/10010316240
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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