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.

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.

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.

Information systems and business informatics: an Australian German comparison

At last year's ACIS conference in Melbourne a panel titled 'IS: A discipline in crisis' discussed issues relating to be in disability of IS in Australia. It is not, however, just the Australian IS discipline that must deal with problems such as the need for better organisational structures and greater visibility in universities. This paper presents a comparison between the German Business Informatics discipline and the Australian Information Systems discipline. The objective is to provide another perspective on the IS discipline to raise new ideas and stimulate discussion with reference to the organisational structure of our discipline in universities.

France and the German refugee crisis of 1993

Initially liberal in its response to refugees from Nazism in 1933, France soon closed its borders to them. Thereafter, refugees encountered a regime of exclusion and antipathy. Historians confront the problem of explaining the reasons for exclusion. Anti-Semitism is often alleged to be motive-force, but this misleadingly imposes on an earlier period our understanding of the Vichy regime and its anti-Jewish legislation. This article investigates the nature of the French responses to those in flight from persecution in Nazi Germany in 1933, and questions whether it is proper to study this period in the context of events after 1940. It argues instead that French refugee policy in the 1930s emerged from the context of anti-foreign measures implemented in response to the economic stress of the late 1920s. Its study of the crisis in 1933 identifies the pressures that shaped France's exclusionary policies and its antipathy to the plight of the refugees.

The Chihuahua sustainability practice: lots of shivering but no real action. Practical sustainability acceptance is low in German and New Zealand firms

Purpose – This paper aims to describe the extent to which corporate organizations in Germany and in New Zealand have included sustainability practices as part of their strategic planning process.

Design/methodology/approach – Current literature is reviewed to make a case for sustainability to be a driver behind corporate decision making and long-term performance. The results of surveys of several hundred firms in both Germany and New Zealand, countries with a publicly stated commitment to sustainability, are reviewed to compare the adoption rates of sustainability practices.

Findings – There is a significant difference between what firms do and what their managers think is important. Managers largely consider sustainability practices an important factor for their future careers, while firms to a large extent do not include sustainability as part of their strategic or operational planning process.

Research limitations/implications – The International Sustainability Acceptance Measurement (ISAM) collects data in several countries through local-language versions of the same online survey tool (www.worldreply.com). The findings in this report are specific only to New Zealand and Germany.

Practical implications – The paper points academics, corporate executives and sustainability fanatics to an alarming inconsistency between what is publicly reported as commitment to sustainability and what is practically achieved.

Originality/value – This paper adds value to the discussion of how sustainability practices have migrated into the operation of firms.

They talk the talk, but do they walk the walk? sustainability acceptance is low in German and New Zealand firms

Through the International Sustainability Acceptance Measurement (ISAM), we intend to better understand the level of acceptance of sustainability as a practical management tool in business around the world (www.worldreply.com). It was observed by others that sustainability concepts often stay on a rather general level where it is hard to identify specific indicators and the potential for future development.i In an effort to contrast the level of sustainability in the ISAM countries, the participating universities analyze their respective country data and then co-operate to benchmark and compare this information around the globe. This makes the ISAM work one of the few world-spanning efforts to look at the practical implementation of sustainability.

Comparability of German and Australian disclosures in financial reports

Reports an international comparison between Australian and German company annual reports. The theoretical framework was drawn from Hofstede's analysis of national cultural value dimensions and Gray's accounting sub-cultural values. The results, using the method developed by Van der Tas, showed low levels of international harmony on accounting policies.