Negotiated shareholder value: the German version of an Anglo-American practice

Abstract: "In comparative political economy it has become commonplace to distinguish between two types of corporate governance systems. In shareholder systems, influence over company management is concentrated with institutional investors holding small percentages of companies' shares. In stakeholder systems, influence is shared between large shareholders, employees, the community, and suppliers and customers. This paper contributes to the literature addressing recent changes in the German variant of the stakeholder system by proposing a few new concepts. On the level of institutions, it is argued that the stakeholder system is not being replaced by a shareholder system in Germany. Rather, an augmented stakeholder system is emerging through the inclusion of institutional investors in the old stakeholder coalition of interests. On the level of practice, it is argued that negotiated shareholder value is being adopted in Germany. This German variant of shareholder value is distinct from Anglo-A

Object Details

• Alternative title: Verhandelter Shareholder Value: die deutsche Variante einer anglo-amerikanischen Praxis
• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource, 24 S.
• Language: Englisch
• Notes: Veröffentlichungsversion

References and Relationships

• Bibliographic citation: Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Märkte und Politik, Forschungsgruppe Institutionen, Staaten, Märkte ; Bd. 2003-25

Classification and Topics

• Keyword: Corporate Governance ; Shareholder-Value-Analyse ; Stakeholder ; Deutschland

Contributors, Places and Time

• Event: Veröffentlichung
• (where): Berlin
• (when): 2003
• Creator: Vitols, Sigurt
• Contributor: Wissenschaftszentrum Berlin für Sozialforschung gGmbH

Further information

• URN: urn:nbn:de:0168-ssoar-112066
• Rights: Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 15.08.2025, 7:33 AM CEST