search query: @indexterm company law / total: 383
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| Author: | Schenk, G. |
| Title: | Ökonomische Analyse des Minderheitenschutzes im Konzern |
| Journal: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
1997 : VOL. 49:7/8, p. 652-673 |
| Index terms: | COMPANY LAW REGULATIONS SHAREHOLDERS GROUPS ORGANIZATIONAL THEORY GERMANY |
| Language: | ger |
| Abstract: | In the German Joint Stock Corporation Act of 1965 two different types of groups are regulated. Whereas a minority shareholder of a de facto group only has a title to the results of the subsidiary , the minority shareholder of a contractual group is compensated by fixed or variable payments by the parent firm. According to the deficiencies in the minority protections of the de facto group, several authors propose that the legal arrangements of the contractual group should be applied to all groups. In the current paper, it is shown that this suggestion ignores the economic benefits of the de facto group. Among other things, the organizational structure of a de facto group can reduce problems of underinvestment and is able to improve the efficiency of capital markets. |
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