BANKS, FINANCE AND INVESTMENT IN GERMANY by Jeremy Edwards, Klaus Fischer ( 9780521566087 )

Item Details

Title:

BANKS, FINANCE AND INVESTMENT IN GERMANY

By:

Jeremy Edwards, Klaus Fischer

Format:

Paperback

List price:

£32.00

Our price:

£28.00

Discount:

12.5% off

You save:

£4.00

ISBN 10:

0521566088

ISBN 13:

9780521566087

Availability:

Usually dispatched within 1-3 weeks.

Delivery rates

Stock:

Currently 0 available

Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

26 January, 1996

Pages:

268

Description:

This book shows that there is no evidence to support the claims of merit for the German system of investment finance.

Synopsis:

This book analyses the widely-held view of the merits of the 'bank-based' German system of finance for investment, and shows that this view is not supported by evidence from the post-war period. The institutional features of the German system are such that universal banks have control of voting rights at shareholders' meetings due to proxy votes, and they also have representation on companies' supervisory boards. These features are claimed to have two main benefits. One is that the German system reduces asymmetric information problems, enabling banks to supply more external finance to firms at a lower cost, and thus increasing investment. The other is that German banks are able to mould and control managements of firms on behalf of shareholders, and thus ensure that firms are run efficiently. This book assesses whether empirical evidence backs up these claims, and shows that the merits of the German system are largely myths.

Illustrations:

4 b/w illus.

Publication:

Imprint:

Cambridge University Press

Returns:

Returnable

Some other items by this author:

5. FACHTAGUNG S?UGLINGS- UND KLEINKINDER (PB)

AGENT-BASED TECHNOLOGIES AND APPLICATIONS FOR ENTERPRISE INTEROPERABILITY (PB)

ALLGEMEINE GEOMORPHOLOGIE

AMERICA IN WHITE, BLACK, AND GRAY (HB)