TY - BOOK ID - 16556858 TI - Banks, finance and investments in Germany AU - Edwards, J. S. S AU - Fischer, K AU - Centre for Economic Policy Research (Great Britain) PY - 1994 SN - 0521453488 0521566088 0511002378 0511582374 0511884524 9780511002373 9780521453486 9780511582370 9780521566087 PB - Cambridge Cambridge University Press DB - UniCat KW - Banks and banking KW - Business enterprises KW - Investments KW - Finance. KW - -Business enterprises KW - -Investments KW - -banques KW - finances KW - investissements KW - allemagne KW - DE / Germany - Duitsland - Allemagne KW - 333.100 KW - 333.101 KW - 339.113 KW - 338.040 KW - -332.0943 KW - Investing KW - Investment management KW - Portfolio KW - Finance KW - Disinvestment KW - Loans KW - Saving and investment KW - Speculation KW - Business organizations KW - Businesses KW - Companies KW - Enterprises KW - Firms KW - Organizations, Business KW - Business KW - Agricultural banks KW - Banking KW - Banking industry KW - Commercial banks KW - Depository institutions KW - Financial institutions KW - Money KW - banken KW - financien KW - investeringen KW - duitsland KW - Algemeenheden. Theorie en principes van de bankorganisatie en -techniek. KW - Banksysteem en bankstelsel. KW - Buitenlandse investeringen. KW - Ondernemingen: algemeenheden. KW - 332.0943 KW - banques KW - Algemeenheden. Theorie en principes van de bankorganisatie en -techniek KW - Banksysteem en bankstelsel KW - Ondernemingen: algemeenheden KW - Buitenlandse investeringen KW - Entreprises KW - Investissements allemands KW - Banques allemandes KW - Business, Economy and Management KW - Economics KW - Private finance KW - Germany KW - Banks and banking - Germany. KW - Business enterprises - Germany - Finance. KW - Investments - Germany. UR - https://www.unicat.be/uniCat?func=search&query=sysid:16556858 AB - This book analyses the widely-held view of the merits of the 'bank-based' German system of finance for investment, and shows that this view is not supported by evidence from the post-war period. The institutional features of the German system are such that universal banks have control of voting rights at shareholders' meetings due to proxy votes, and they also have representation on companies' supervisory boards. These features are claimed to have two main benefits. One is that the German system reduces asymmetric information problems, enabling banks to supply more external finance to firms at a lower cost, and thus increasing investment. The other is that German banks are able to mould and control managements of firms on behalf of shareholders, and thus ensure that firms are run efficiently. This book assesses whether empirical evidence backs up these claims, and shows that the merits of the German system are largely myths. ER -