We propose a novel approach to measure the value that shareholders assign to financial
flexibility. In contrast to existing proxies for financial constraints, our measure is market-based, …

We empirically examine the level and structure of director compensation in a two-tier setting
using a novel data set covering German Prime Standard firms for the period 2005–2008. …

We empirically study the use of value-based management systems in listed German firms
and examine implications for firms’ stock market performance. Using a novel, hand-collected …

We examine the relationship between the use of value-based key performance indicators in
a firm’s management control system and the dynamics of working capital (WC). We …

In 2003, the German Stock Exchange instituted the Prime Standard as the highest regulated
stock market segment in Germany. We analyze the firms’ delisting decisions from this …

Corporate R&D activities are inherently risky but also difficult to monitor. Against this
background, we examine the impact of ownership concentration and legal shareholder rights …

Short: We hypothesize that companies with board‐level employee representation ( BLER )
experience a lower probability of crisis‐induced dismissals than other firms. Theoretically, we …

Der deutsche Aktienmarkt sah sich in den letzten 15 Jahren substantiellen Veränderungen
gegenüber, welche unter anderem in eine zunehmende Internationalisierung und deutlich …

Behavioural disturbances in the demented elderly cause a significant amount of distress
both to the patients and their caregivers. This article first summarizes the phenomenology …

… See Demirguç-Kunt and Levine (1999), cited earlier and Christoph Kaserer and Marc Steffen
Rapp (… Kohl CGR/Rapp MS, Family firms and best-practice rules of corporate governance: …