Shareholder value in an adverse environment
The German case
Bibliographic Data
| ID | 2159229 |
|---|---|
| Authors | Ulrich Jürgens (0000-0002-7704-2490), Katrin Naumann, Joachim Rupp |
| Year | 2000 |
| Volume | 29 |
| Issue | 1 |
| Pages | 54-79 |
| Publication date | 2000-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economy and Society (JOURNAL) |
| Journal identifiers | ISSN: 0308-5147 • E-ISSN: 1469-5766 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/030851400360569 |
| OpenAlex | W2083418880 |
| Language | EN |
| Citations received | 74 |
| References cited | 1 |
The German political economy has often been cited as a classical case of non-shareholder value orientation. Its productionist, long-term, consensus orientation has often been contrasted with the 'Anglo-Saxon approach'. The influence of shareholders who press for shareholder value and the importance of the equity market have traditionally been low. But there are signs of change. In this article we describe some of these changes and try to assess the dynamics of this change process. First we show that the limited role of the equity market for company financing and for private household savings still provides a very narrow base for a shareholder value economy in Germany. The central pillars of the German system of corporate governance - the dominating role of banks, the system of co-determination and the company centred management system - are not crumbling. Change in the direction of shareholder value is therefore limited. Keywords: Shareholder ValueCorporate GovernanceGermanyCo-determinationFinancial Markets
Business · Corporate governance · German · Linguistics · Shareholder · Shareholder value · Value (mathematics · Corporate Finance and Governance · Financial Reporting and Valuation Research · Mathematics · Risk Management in Financial Firms · Accounting · Finance · Philosophy
European States and the Euro
Governance in der politischen Ökonomie
Corporate Governance, Competition, and Political Parties
Governing the Firm
Varieties of Labor Politics in the Developed Democracies
Financialisation and capital accumulation in the non-financial corporate sector
The Symbolic Management of Strategic Change
Governance in der Politischen Ökonomie
Wage Bargaining and Comparative Advantage in EMU
Institutional Variation and Coordination Patterns in CMEs
Negotiated Shareholder Value
Fleeing or Exporting the German Model? — The Internationalization of German Multinationals in the 1990s
Firms and the Welfare State
Social Protection and the Formation of Skills
Beyond Varieties of Capitalism
Varieties of Capitalism
The Futures of European Capitalism
An Introduction to Varieties of Capitalism
The Euro and Labour Market and Wage Policies
The Origins of Varieties of Capitalism
Employers, Public Policy, and the Politics of Decentralized Cooperation in Germany and France
The Evolution of Varieties of Capitalism in Europe
The Political Economy of Adjustment in Mixed Market Economies
Introduction
Reforming National Regulatory Institutions
Macroeconomics and Varieties of Capitalism
The Domestic Sources of Multilateral Preferences
Why EMU Is—or May Be—Good for European Welfare States
Economic Shocks and Varieties of Government Responses
Business, Government, and Patterns of Labor Market Policy in Britain and the Federal Republic of Germany
What Does Business Want? Labour Market Reforms in CMEs and Its Problems
Negotiated Shareholder Value
Globalisation as commodification
Corporate Social Responsibility Theories in the Context of Global Transformational Events
Between Hierarchies and Markets
Impact of shareholder-value pursuit on labor policies at Japanese joint-stock companies
Convergence of Management Practices in Strategy, Finance and HRM between the USA, Japan and Germany
The financialization of large law firms
Une finance soutenable
(Dis-)Owning the Corporation
Territorialized Key Words and Methodological Nationalism
Accumulation under conditions of inequality
Financialization, labor market institutions and inequality
Institutioneller Wandel als Hybridisierung
Mechanismen institutionellen Wandels im deutschen Kapitalismus
Refinanzierung als Organisationsproblem
Finanzialisierung als ‚Investifizierung‘
Convergence, the institutional turn and workplace regimes
New Challenges for Developing Country Suppliers in Global Clothing Chains
Das deutsche Produktionsmodell unter dem Druck des Shareholder Value
Die Finanzialisierung von Unternehmen
Generationswechsel im Management ost- und westdeutscher Unternehmen
Finanzialisierung, Demokratie und Gesellschaft – zehn Jahre nach Beginn der Finanzkrise
Between national governance and the internationalisation of business. The case of four major West German producers of chemicals, pharmaceuticals and fibres, 1945–2000
Introduction
French capitalism transformed, yet still a third variety of capitalism
The effects of convergence
The emerging funding gap for the European Energy Sector—Will the financial sector deliver
Chasing the dragon east
Dynamics in the German system of corporate governance? Empirical findings regarding interlocking directorates
Shareholder value and Financialization
Insiders, Outsiders, and the Politics of Corporate Governance
Invasion From Within
Bridging the critical divide
Pensions and Politics
The Small World of Germany and the Durability of National Networks
Making sense of financialization
Neoliberal governance, evaluations, and the rise of win-win ideology in corporate responsibility discourse, 1960-2010
Qu'est-ce que le capitalisme financier
The Global Sourcing Patterns of French Clothing Retailers
Financialisation and the coupon pool
The rise of the 'shareholding state
Economic Geographies of Financialization
Disconnected Capitalism
| Unique citing works | 74 |
|---|---|
| Citations per year | 2,85 |
| Citation span | 2000 - 2026 (27) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 73 |