Corporate Governance and Globalization

In: The annals of the American Academy of Political and Social Science, Band 570, S. 153-172

Abstract

Drawing on the cases of the US & Germany, it is argued that considerable change has indeed occurred in national governance systems. These changes cannot be understood, however, as the outcome of a market-driven, efficiency-enhancing process. Rather, realignments in corporate governance reflect the growing economic & political power of those who have accumulated financial assets, a trend that is highly dependent on the extent of population aging & the social arrangements for pension provision in domestic economies. 33 References. Adapted from the source document.