Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40281
Authors: 
Buch, Claudia M.
Heinrich, Ralph P.
Year of Publication: 
2002
Series/Report no.: 
Research notes working paper series 2
Abstract: 
The paper studies the link between the integration of European financial markets and corporate governance in Europe. The focus of the paper is on how integration affects the interplay of ownership structures, capital structures, and monitoring, all of which can be used to govern agency problems at the firm level. Integration is a process which comprises the abolition of capital controls, the harmonization of institutions, and the creation of a common currency area. These elements, in turn, affect the liquidity of markets, the cost of monitoring, and the cost of debt. Based on these considerations, implications for changes in the structure of corporate governance systems are derived.
Subjects: 
corporate governance
complementarity
financial integration
JEL: 
G30
D23
Document Type: 
Working Paper

Files in This Item:
File
Size
198.43 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.