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The German stock market has developed by leaps and bounds over the past two years. German legislators have, for example, introduced a large number of improvements that…
The German stock market has developed by leaps and bounds over the past two years. German legislators have, for example, introduced a large number of improvements that have brought the underlying conditions of the German financial markets into line with international standards. Market participants thereby have the potential — above all through the introduction of a single European currency — to actively avail themselves of the resulting opportunities. The future will see progressive globalisation and increasing international competition on the financial markets and the markets for goods and services. There will also be a greater need for pension plans funded through the capital markets. These developments will further promote the utilisation of shares as a financing and investment instrument in Continental Europe and, especially, in Germany. Introduction of the Euro will considerably reinforce these developments and the integration of markets. The German financial markets are well prepared to meet these challenges. Market participants are taking advantage of the improved underlying legal environment to develop their position among international competitors.
The purpose of this paper is to provide an outline of German corporate governance.
The history of the German Corporate Governance Code is highlighted. Then a short overview of the acceptance of the code by companies in practice is given which is based on an empirical survey. This is followed by the most recent changes as well as an overview of the developments of corporate governance in Europe. Finally, a summary of the current discussion of codetermination in terms of company management in Germany is provided.
This appraisal, accompanied by a high degree of approval of the code, shows that, on the one hand, its stipulations partly break with tradition and, on the other hand, have undergone frequent changes: in a period of four years, already four amendments have been made.
The paper offers insight into issues of corporate governance in Germany.
Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some of these developments. First and perhaps foremost is the fact that as of September 2016 Sraffa’s archival material has been uploaded onto the website of the Wren Library, Trinity College, Cambridge University, as digital colour images; this chapter introduces readers to the history of these events. This history provides sharp relief on the extant debates over the role of the archival material in leading to the final publication of Production of Commodities by Means of Commodities, and readers are provided a brief sketch of these matters. The varied nature of Sraffa scholarship is demonstrated by the different aspects of Sraffa’s intellectual legacy which are developed and discussed in the various entries of our Symposium. The conclusion is reached that we are on the cusp of an exciting phase change of tremendous potential in Sraffa scholarship.
Security and defense policy is not a topic that traditionally attracts as much public attention as does domestic policy. Also, public opinion can be influenced by singular…
Security and defense policy is not a topic that traditionally attracts as much public attention as does domestic policy. Also, public opinion can be influenced by singular events such as terrorist attacks or acute humanitarian catastrophes, which create flash-like peaks in the public attention. However, it is well known that the more persistent patterns of public opinion are rather formed by long-term traits and globally affecting developments. The international mission in Afghanistan following the collapse of the Taliban regime seems to have the potential to be such a global event.
This chapter deals with the development of public opinion in Germany on security and defense issues in the last few years. It strives to investigate long-lasting patterns of security-related public opinion that can be found among the German citizenry. In order to do so, it takes an overview on some selected security and defense issues. In detail, the paper investigates the general attitude toward the armed forces, which have undergone considerable change in recent years, the public approach toward the system of military mobilization and the feeling toward the participation of Germany in international missions. It thereby gives special consideration to the current ISAF mission in Afghanistan, as this mission has created a major political debate among participating NATO-partner countries. The paper describes how the controversy about the German troop contribution within the alliance is echoed in public opinion polls. Furthermore, it tries to explain these patterns in light of the specific historical background and by using the collective self-concept that materializes in Europe and Germany in recent years.