nep-cfn New Economics Papers
on Corporate Finance
Issue of 2009‒01‒31
two papers chosen by
Zelia Serrasqueiro
University of the Beira Interior

  1. Persistence and Determinants of Firm Profit in Emerging Markets By Andreas Stephan; Andriy Tsapin
  2. Composition of Supervisory Boards in Germany: Inside or Outside Control of Banks? By Ettore Andreani; Kathrin Dummann; Doris Neuberger

  1. By: Andreas Stephan; Andriy Tsapin
    Keywords: Profit, Persistence, Convergence, Markov chain analysis, Ukraine
    JEL: G32 G30
    Date: 2008
  2. By: Ettore Andreani (University of Rostock); Kathrin Dummann (University of Rostock); Doris Neuberger (University of Rostock)
    Abstract: This paper examines the composition of supervisory boards of German banks for a sample of 41 large banks in the period 1999-2006. We find that the supervisory board structure reflects both outside control by shareholders and inside control by stakeholders. Most of the non-employee board members are representatives of other banks and industrial companies. The high presence of former executives and German board members indicates inside control. In banks controlled by other banks or insurance companies it is less likely that the chairperson of the supervisory board is a former executive of the same bank. Over time, inside networking through the supervisory board decreased.
    Keywords: corporate governance, dual board system, principal agent theory, stakeholder theory, banks
    JEL: G21 G34
    Date: 2009

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