Arbeitspapier

European financial integration and corporate governance

The paper studies the link between the integration of European financial markets and corporate governance in Europe. The focus of the paper is on how integration affects the interplay of ownership structures, capital structures, and monitoring, all of which can be used to govern agency problems at the firm level. Integration is a process which comprises the abolition of capital controls, the harmonization of institutions, and the creation of a common currency area. These elements, in turn, affect the liquidity of markets, the cost of monitoring, and the cost of debt. Based on these considerations, implications for changes in the structure of corporate governance systems are derived.

Sprache
Englisch

Erschienen in
Series: Research Notes ; No. 2

Klassifikation
Wirtschaft
Corporate Finance and Governance: General
Organizational Behavior; Transaction Costs; Property Rights
Thema
corporate governance
complementarity
financial integration
Finanzmarkt
Marktintegration
Internationaler Finanzmarkt
Corporate Governance
Kapitalstruktur
Eigentümerstruktur
EU-Staaten

Ereignis
Geistige Schöpfung
(wer)
Buch, Claudia M.
Heinrich, Ralph P.
Ereignis
Veröffentlichung
(wer)
Deutsche Bank Research
(wo)
Frankfurt a. M.
(wann)
2002

Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Buch, Claudia M.
  • Heinrich, Ralph P.
  • Deutsche Bank Research

Entstanden

  • 2002

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