European financial integration and corporate governance

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Research Notes ; No. 2

Classification and Topics

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

Contributors, Location and Time

• Event: Geistige Schöpfung
• (who): Buch, Claudia M. ; Heinrich, Ralph P.
• Event: Veröffentlichung
• (who): Deutsche Bank Research
• (where): Frankfurt a. M.
• (when): 2002

Further information

• Handle: http://hdl.handle.net/10419/40281
• Last update: 10.03.2025, 11:45 AM CET