Ruehmkorf, A. orcid.org/0000-0003-0071-0283, Spindler, F. and Navajyoti, S. (2019) Evolution of German corporate governance (1995-2014) : an empirical analysis. Corporate Governance, 19 (5). pp. 1042-1062. ISSN 1472-0701
Abstract
Purpose This paper aims to address the evolution of corporate governance in Germany with a particular regard to whether there can be observed a gradual convergence to a shareholder primacy corporate governance system.
Design/methodology/approach To investigate a potential shift of the German corporate governance system to an Anglo-American tiled corporate governance system, the authors have empirically assessed on a polynomial base 52 separate company and corporate governance variables for 20 years (1995-2014).
Findings This research suggests that a gradual convergence has taken place prior to the global financial crisis. However, the results suggest that the convergence process experienced a slowdown in the aftermath of the global financial crisis, which may be linked to the stability of the German corporate governance system during the global financial crisis and the political environment during this time.
Originality/value This paper contributes to the research by not only analysing the development of the German corporate governance system but also identifying new reasons for this development and explaining why a new convergence process may be observed in the future again.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 Emerald. This is an author-produced version of a paper subsequently published in Corporate Governance. This version is distributed under the terms of the Creative Commons Attribution-NonCommercial Licence (http://creativecommons.org/licenses/by-nc/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You may not use the material for commercial purposes. |
Keywords: | Governance; Corporate governance |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > School of Law (Sheffield) |
Funding Information: | Funder Grant number European Commission - Horizon 2020 693642 |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 12 Feb 2019 09:40 |
Last Modified: | 16 Nov 2021 13:41 |
Status: | Published |
Publisher: | Emerald |
Refereed: | Yes |
Identification Number: | 10.1108/CG-07-2018-0251 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:141762 |
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