German Corporate Governance in International and European Context

Plessis, Jean Jacques du; Grossfeld, Bernhard; Luttermann, Claus; Saenger, Ingo; Sandrock, Otto; Casper, Matthias

doi:10.1007/978-3-642-23005-9

Cited by 21 publications

(3 citation statements)

References 5 publications

(45 reference statements)

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Section: Sample and Data Collectionmentioning

confidence: 99%

“…The German corporate governance system prescribes a two-tier board structure for stock-listed corporations ("Aktiengesellschaften"), distinguishing between the management board ("Vorstand") and the supervisory board ("Aufsichtsrat";Du Plessis et al, 2012). Due to its responsibility for the firm's strategic and operational decision-making (Du Plessis et al, 2012), we base our analysis on the former. Specifically, the management board influences firm innovativeness directly by setting the firm's strategic direction toward innovation (Talke et al, 2010), determining the resources allocated toward innovation actions (Talke et al, 2011) and instilling a culture of innovativeness in the firm (Sperber, 2016).…”

Section: Sample and Data Collectionmentioning

confidence: 99%

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A temporal perspective on the relationship between top management team internationalization and firms' innovativeness

Wrede

Dauth

2020

Manage Decis Econ

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This study examines whether top management team (TMT) internationalization is positively related to firm innovativeness. Besides focusing on the accumulation of top managers' international knowledge and capabilities, we explore the influence of moderators reflecting temporal concerns at three levels: CEO age, TMT tenure, and firm age. Combining upper echelons theory with innovation literature and using a sample of large stock-listed German firms, we demonstrate that TMT internationalization can increase firm innovativeness. This relationship is context-dependent on the age of the CEO. Overall, this paper sheds light on the antecedents of firm innovativeness and the consequences of increasingly international TMTs.

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Section: Sample and Data Collectionmentioning

confidence: 99%

Section: Sample and Data Collectionmentioning

confidence: 99%

A temporal perspective on the relationship between top management team internationalization and firms' innovativeness

Wrede

Dauth

2020

Manage Decis Econ

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“…Thus, they are not independent in such a manner and, in this way, may think that it's hard to adapt to the CEOs when offering counsel on CEO's remuneration and different issues. When they have been designated, these independent directors have a solid motivating force to keep up a decent association with the senior management (Du Plessis et al, 2012). Ghaffar (2014) led a review to see the effect of corporate governance practices on the profitability of Islamic banks in Pakistan.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Corporate Governance Index and Earnings Management on Firms’ Performance: A Comparative Study on the Islamic Versus Conventional Financial Institutions in Pakistan

Ashfaq

Kayani

Saeed

2017

J. Islam. bus. manag.

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Abstract. This study investigates the impact of corporate governance index and earnings management on firms' performance and makes a comparative analysis of the selected Islamic and conventional financial institutions in Pakistan for the period of [2005][2006][2007][2008][2009][2010][2011][2012][2013][2014][2015]. Data of 20 KSE listed Islamic financial institutions (i.e., a few Islamic banks and mostly mud .ā rabah companies), and 35 KSE listed conventional financial institutions (i.e., conventional banks, mutual funds, insurance companies, and investment companies) have been used for analysis. The fixed effect model and random effect model have been used for analysis. The study finds that the corporate governance structure of conventional financial institutions is sound as compared to Islamic financial institutions. The study also concluded that the manipulation for earnings management is less in Islamic financial institutions as compared to conventional financial institutions in Pakistan. Therefore, it does not affect firm's performance of Islamic financial institutions whereas the results of conventional financial institutions indicate that the manipulation of earnings management has an impact on their performance. Results of this study suggest that compliance with corporate governance practices is equally significant for both Islamic and conventional financial institutions.

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Governance disclosure quality and market valuation of firms in UK and Germany

et al. 2020

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This study develops a “comply or explain” index which captures compliance and quality of explanations given for non‐compliance with the corporate governance codes in UK and Germany. In particular, we explain, how compliance and quality of explanations provided in non‐compliance disclosures, and various other internal corporate governance mechanisms, affect the market valuation of firms in the two countries. A dynamic generalised method of moments (GMM) estimator is employed as the research technique for our analysis, which enabled us to control for the potential effects of endogeneity in our models. The findings of our content analysis suggest that firms exhibit significant differences in compliance, board independence and ownership structure in both countries. The “comply or explain” index is positively associated with the market valuation of UK firms suggesting that compliance and quality governance disclosure are value relevant in the UK. Institutional blockholders' ownership is, however, negatively associated with the market value of firms, which raises questions about the monitoring role of institutional shareholders in both countries. We argue that both compliance and explanations given for non‐compliance are equally important, as long as valid reasons and justifications for non‐compliance are provided by the reporting companies. These findings thus imply that the “comply or explain” principle is working well and that UK and German companies could benefit from the flexibility offered by this principle. With respect to the role of board size, board independence, ownership structure, and institutional ownership of firms, this study offers policy implications.

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German Corporate Governance in International and European Context

Cited by 21 publications

References 5 publications

A temporal perspective on the relationship between top management team internationalization and firms' innovativeness

A temporal perspective on the relationship between top management team internationalization and firms' innovativeness

The Impact of Corporate Governance Index and Earnings Management on Firms’ Performance: A Comparative Study on the Islamic Versus Conventional Financial Institutions in Pakistan

Governance disclosure quality and market valuation of firms in UK and Germany

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