Reflections on some recent corporate governance reforms in Germany. A transformation of the German aktienrecht?

Focuses on the German law reform relating to public corporations. Flaws to the German system of corporate governance; Advantages of comparative corporate governance research; Features of the German Corporate Governance Code.

The German two-tier board and the German corporate governance code

This paper deals with some interesting recent corporate governance developments in Germany. The focus is in particular on the German Corporate Governance Code, its parts, layout and how it deals with the various organs of German public corporations. The German Code is quite unique since it applies a Code of Good Practice to a two-tier board system, thus making it necessary to deal with the role and functions and the relationship between the management and the supervisory board. This paper concludes that several changes to the German law relating to public corporations since the middle of the 1990s and the introduction of the German Code will ensure that the two-tier board system will remain the favoured board structure for public corporations in Germany. It is, however, submitted that employee participation at supervisory board level will provide particular political challenges for Germany in the near future.

'Untranscended / life itself': the poetry of Pam Brown

Pam Brown's cynicism, satire, attractions and repulsions seem built around an absent centre, something always already in the poetry lost in the tedious non-occurrences of contemporary Australian life. Brown has typically published in a scattered, small-press way and while this small-press, small-readership approach is something most Australian poets know intimately, Brown has made it into an art form, and one which seems in keeping with her own ironic and at times cynical approach to the world of appearance, celebrity and media hype.

The impossible infinite: Les Murray, poetry, and the sacred

In 1983, the provocative and idiosyncratic Australian poet Les Murray published a volume entitled The People's Otherworld. At the heart of that middle volume of Murray's work is a poem about grace entitled Equanimity. Here, McCredden examines how does the poetry of Murray seek to represent the sacred.

Differences in how english and german speakers talk and reason about CAUSE

This research identifies how English and German speakers differ in the range of situations they describe as causal and how these difference may influence causal reasoning. In Experiments 1 and 2, English and German speakers described 3D animations of complex events using CAUSE verbs (cause, get) and ENABLE verbs (let, enable). As predicted, English speakers used CAUSE verbs to describe a wider range of events than German speakers. In Experiment 3, English and German speakers viewed 3D animations of CAUSE and ENABLE events and then estimated the likelihood of the effect (E) in the presence of the affector (A), p(E|A), in hypothetical situations similar to the one they just saw. Given the results of Experiments 1 and 2, we predicted that German speakers’ estimates of p(E|A) would be higher than English speakers’ estimates of p(E|A) for ENABLE events, but not necessarily for CAUSE events. The results were as predicted. The findings suggest that English and German speakers differ in the range of situations they describe as causal and that these differences in linguistic coding may lead to differences in causal reasoning.

German corporate governance in international and European context

The main aim with this book is to provide English speaking readers with a comprehensive overview of the German corporate governance model. The authors introduce the reader to the unique features of the German Business and Enterprise Law. The book deals with the most important company organs, namely the General Meeting, the Management Board and the Supervisory Board. The unique interplay among these organs are also covered and the reader is introduced to the particular dynamics of the German two-tier board structure.Further the authors deal with the dominant role of the "German banks" and new players in the German financial markets, focusing particularly on voting rights of these institutions at companies' general meetings and appointing members to companies' supervisory boards. Accounting is shown as the documentary proof of good corporate governance. The final chapter gives an overview of corporate governance in the European Union, the OECD Principles of Corporate Governance and corporate governance in the US, the UK and Australia.

Contemporary poetry and the sacred: Vincent Buckley, Les Murray and Samuel Wagan Watson

VINCENT Buckley's Golden Builders and Other Poems (1976) is an important poetic experiment in its direct and exulted address to the city and to the sacred. The city is Melbourne in which Buckley lived, worked and wrote for forty years. In the original volume, the epigraph to the twenty-seven part sequence 'Golden Builders' is from William Blake's Jerusalem, a profound and idiosyncratic yoking together of the corporeal and the sacred

The German corporate governance model in the wake of company law harmonisation in the European Union

In this article the authors deal with several recent developments in the European Union (EU) regarding company law harmonisation. These developments took place at the same time that the German corporate governance model has been refined considerably. The authors conclude that these developments in the EU and Germany respectively will necessarily create tension within the EU as far as corporate governance and company law harmonisation are concerned.

Advanced manufacturing technology adoption - the German experience

The decision process that organisations utilise when evaluating technology investment opportunities is a complex and even political process; however, the correct decision can provide the organisation with considerable operational and competitive benefits. The research presented in this paper presents the findings of a postal survey of the benefits provided by technology investments to large German manufacturers. It was found that only where middle management generated the idea for the advanced manufacturing technology (AMT) investment was success in that investment significantly more likely. Respondents who established a project team to plan the technology proposal, regardless of the department which generated the ideas for technology investment, were not significantly associated with a greater likelihood for success.

The respondents typically took between 3 and 12 months before making the final decision to invest, irrespective of the department generating the idea for the AMT, and a further 6 months to implement the AMT. Respondents who utilised a discounted cashflow analysis took significantly longer to make the final decision to invest. The greatest number of manufacturing outcomes of significantly higher importance was identified for respondents where Engineering, IT or R&D generated the AMT ideas. It was also determined that the respondents most frequently considered AMT investments in computer hardware or software and technical training for process workers to be necessary at the time of considering the investment. Middle management were found to be significantly more concerned than managers on other levels about opposition of workers to the AMT, while the process workers were significantly more concerned about interruptions to the process during installation.