Capital Markets and Corporate Governance in Japan, Germany, and the United States: Organizational Response to Market Inefficiencies

By Helmut M. Dietl | Go to book overview

2

EMPIRICAL EVIDENCE FROM GERMANY, JAPAN AND THE UNITED STATES
This chapter reports empirical evidence from Germany, Japan and the United States. For each country in turn there are subsections dealing with
1 comprehensive analysis of the regulatory environment
2 comparative capital market data
3 analysis of the structure and concentration of corporate ownership
4 prediction of the organizational response to capital market inefficiencies on the basis of the theoretical framework developed in Chapter 1
5 the statistical method which is applied to test these predictions
6 the statistical results.

GERMANY

Regulatory environment

Corporate law In order to qualify for stock exchange listing, German companies have to be incorporated as Aktiengesellschaft (AG) or Kommanditgesellschaft auf Aktien (KGaA). The legal provisions which regulate AGs and KGaAs are contained in the Aktiengesetz— the AktG or “Stock Act” of 1965—in the currently valid version of 1985.

A KGaA 1 is a partly limited partnership which combines the characteristics of a partnership with those of a stock corporation. It consists of shareholders whose liability is limited to the nominal value of their shares and at least one partner who is a major executive of the company and has unlimited liability. Compared to AGs,

-111-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Capital Markets and Corporate Governance in Japan, Germany, and the United States: Organizational Response to Market Inefficiencies
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Illustrations vi
  • Acknowledgements viii
  • Introduction 1
  • 1 - Theoretical Framework 4
  • 2 - Empirical Evidence from Germany, Japan and the United States 111
  • Summary 161
  • Appendices 166
  • Notes 170
  • Bibliography 182
  • Name Index 190
  • Subject Index 193
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 200

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.