Wirtschaftswissenschaftliche Fakultät

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Corporate Governance in Large and Public Companies


The problems in corporate governance are often reduced to the separation of ownership and control induced by the dispersion of equity stakes in public companies. Without the control of a large shareholder, managers could follow their own interests at the costs of the owners of the firms – the plenty of unknown shareholders. Influenced by the academic research from Anglo-Saxon countries like the US and UK, it is mainstream to focus only on the shareholder as the most relevant stakeholder of a corporation – treating shareholder value as the single one goal of managers.

Our research program on corporate governance in large and public companies fits in parts into this context. Since corporations in Continental Europe in general and in particular in Germany differ from the “All American Corporation”, we also focus on different and specific issues in Corporate Governance, like the interrelation of different kinds of large shareholders, board composition and co-determination and specific kinds of moral hazard behavior (Crime).