Work package 3: Ownership structures in the corporate sector and corporate governance

One of the core elements of the financial system will be closely analysed by the Sociological Research Institute (SOFI) in WP3, "Ownership structures in the corporate sector and corporate governance". Some of the formative characteristics of national variations of capitalism are the questions of who owns the enterprises, who manages them and how is the management being supervised. Much of the relevant literature from political economy and economic sociology currently perceives the German economy as transitioning from a bank-based, insider system of corporate governance to a liberal, market-oriented model of “financial market capitalism”. Such diagnoses are based on assumptions regarding the transformations of ownership structures, corporate governance and financial market and concepts of management and supervision of the corporation. WP3 develops a set of indicators that have to be collected as time series in order to identify the degree of this alleged transition of the German economy and to make assumptions about “control financialisation” of the so-called “real economy” verifiable. Indicators are proportion und ownership structures of companies listed on the stock exchange, number and capacity of “Private-Equity”-investors and institutional investors, composition of supervisory boards, executive board remuneration, acquisition activities, dividend distributions and share repurchases. The observation is mainly based on statistical series delivered by a variety of official institutions (Deutsche Bundesbank, Deutsche Börse, BAFin, etc.). For exemplary questions, empirical case studies conducted by SOFI or other research institutions will be used. The WP raises the question whether the term “financial market capitalism” should be used to characterise entire national economies. It could be more appropriate to look for different patterns of corporate governance within a national economy (“diversity within capitalism”).

Researcher

Prof. Dr. Marcel Tyrell (Zeppelin University, Friedrichshafen)

 
Poster
Poster Kapitel 3: Individuelle Teilhabemuster: Verschiedenheit und Ungleichheit PDF