| dc.creator |
Siebert, Horst |
|
| dc.date |
2004 |
|
| dc.date.accessioned |
2013-10-16T06:02:25Z |
|
| dc.date.available |
2013-10-16T06:02:25Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
Kiel working paper Institut für Weltwirtschaft, Kiel 1206 |
|
| dc.identifier |
http://hdl.handle.net/10419/3228 |
|
| dc.identifier |
ppn:387368973 |
|
| dc.identifier |
ppn:387368973 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/3228 |
|
| dc.description |
Germany?s capital market relies on bank-intermediated products and not so much on capital market processes. Two of the pillars in Germany?s three-pillar banking system, the savings banks and the cooperative banks, have special statutes and are not exposed to the control of the capital market through the usual threat of a change in ownership. Savings banks enjoy public guarantees. In the financing of firms, bank credits are far more important relative to market products - equity and bonds - than in the Anglo-Saxon countries. Moreover, banks so far have had a dominating position in corporate control through their holdings and their votes in the supervisory board in Germany?s two-tier system of corporate governance. In this system block holdings are a relevant element. With the banks themselves under the pressure of changed international conditions, the German system of corporate control has yet to prove its viability. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 1206 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
G3 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Banking system , capital market , corporate governance |
|
| dc.subject |
Finanzmarkt |
|
| dc.subject |
Finanzsektor |
|
| dc.subject |
Bankensystem |
|
| dc.subject |
Corporate Governance |
|
| dc.subject |
Bank |
|
| dc.subject |
Deutschland |
|
| dc.title |
Germany's capital market and corporate governance |
|
| dc.type |
doc-type:workingPaper |
|