IDEAS home Printed from https://ideas.repec.org/p/cdl/bineur/qt4p15c19g.html
   My bibliography  Save this paper

Restructuring “Germany Inc.”: The Politics of Company and Takeover Law Reform in Germany and the European Union

Author

Listed:
  • Cioffi, John W.

Abstract

The reform of German company law by the Control and Transparency Law (“KonTraG”) of 1998 reveals politics of corporate governance liberalization. The reforms strengthened the supervisory board, shareholder rights, and shareholder equality, but left intra-corporate power relations largely intact. Major German financial institutions supported the reform’s contribution to the modernization of German finance, but blocked mandatory divestment of equity stakes and cross-shareholding. Conversely, organized labor prevented any erosion of supervisory board codetermination. Paradoxically, by eliminating traditional takeover defenses, the KonTraG’s liberalization of company law mobilized German political opposition to the EU’s draft Takeover Directive and limited further legal liberalization.

Suggested Citation

  • Cioffi, John W., 2002. "Restructuring “Germany Inc.”: The Politics of Company and Takeover Law Reform in Germany and the European Union," Institute of European Studies, Working Paper Series qt4p15c19g, Institute of European Studies, UC Berkeley.
    • Handle: RePEc:cdl:bineur:qt4p15c19g
    as

    Download full text from publisher

    File URL: https://www.escholarship.org/uc/item/4p15c19g.pdf;origin=repeccitec
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:bla:jcmkts:v:47:y:2009:i::p:55-79 is not listed on IDEAS
    2. Löhlein, Lukas & Müßig, Anke, 2020. "At the boundaries of institutional theorizing: Individual entrepreneurship in episodes of regulatory change," Accounting, Organizations and Society, Elsevier, vol. 83(C).
    3. Rünger, Silke, 2011. "The effect of Germany's Tax Reform Act 2001 on corporate ownership: Insights from disposals of minority blocks," arqus Discussion Papers in Quantitative Tax Research 114, arqus - Arbeitskreis Quantitative Steuerlehre.
    4. Jean-Christophe Duhamel & Réda Sefsaf, 2017. "Valeur de la gouvernance d'entreprise et gouvernance des valeurs de l'entreprise. Recherche sur les effets des codes de gouvernance et les stratégies de communication en matière de gouvernance," Working Papers halshs-01633982, HAL.
    5. Luca Enriques & Paolo Volpin, 2007. "Corporate Governance Reforms in Continental Europe," Journal of Economic Perspectives, American Economic Association, vol. 21(1), pages 117-140, Winter.
    6. Detzer, Daniel, 2019. "Financialization made in Germany: A review," IPE Working Papers 122/2019, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

    More about this item

    Keywords

    economy; finance; PEIF;
    All these keywords.

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cdl:bineur:qt4p15c19g. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lisa Schiff (email available below). General contact details of provider: https://escholarship.org/uc/ies/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.