… , 2001). My objective in this paper is to describe and account for the changes that have
taken place in the German model of corporate governance by focusing on the ownership of …

… in German corporate governance was the change in corporate … 921 blockholdings in 2001
compared to 1679 blockholdings … cross-holdings did not change between 1997 and 2001, this …

… The German corporate governance system changed … Based on a hand-collected data set
of ownership data from 1997 … One of the main reasons might be the 2001 change in corporate …

… Fifth, although blockholdings are meant to mitigate the agency … As an illustration, in 1997
the value of their holdings in the … A disciplinary change in control is then expected to be less …

… and Vishny (1997) corporate governance is mainly concerned … and especially blockholdings
is discussed in Deutsches … of change which relate to corporate governance in Germany, and …

… total blockholdings of the whole financial sector in listed companies was 29.9 per cent in
2001 … constitute a fundamental change in the corporate governance system. Rather, regulatory …

… First, as a code law country, Germany has a corporate governance … and the government
reduced their blockholdings in listed … change in the ownership structure of corporate Germany. …

… in corporate governance is whether large owners (blockholders) contribute to the solution of
agency problems or whether they exacerbate them (Shleifer and Vishny, 1997… blockholdings …

… a regime shift in the German corporate governance system by … as of end 2001. The
independent variables are: OVERALL (… We find supporting evidence for all four hypotheses. First, …

… market for blockholdings is a corporate governance market … model by adding concentration
of share ownership, changes … 1992 and subsequent Hampel commission of 1997 for the UK (…